Foxconn Unveils Three Reference Vehicle Models, Plans to Acquire 50% Stake in Mitsubishi Electric Mobility

Foxconn recently unveiled three reference vehicle models—MODEL A+, MODEL K+, and MODEL K—covering three segments: B-segment SUVs, youth-oriented models, and light commercial trucks for the Japanese market. All three models are built on Foxconn's open platform, allowing automaker clients to customize exterior design, powertrain configuration, and interior according to their own brand positioning. This marks the third concentrated release of reference models since the MIH open platform was established in 2021. Foxconn has previously secured contract manufacturing partnerships with clients including Lotus, but has yet to generate large-scale mass-production orders. According to an official announcement by Hon Hai Technology Group, Lin Yin, an investment company under Foxconn, will acquire a 50% stake in Mitsubishi Electric Mobility Corporation, a subsidiary of Mitsubishi Electric. The transaction is valued at 115 billion yen, approximately 5.4 billion yuan, and is expected to close in October 2027. Mitsubishi Electric disclosed in the announcement that the deal is expected to result in a book loss of approximately 100 billion yen. Mitsubishi Electric Mobility primarily manufactures automotive electrical equipment and powertrain components, serving multiple mainstream Japanese automakers. Foxconn Chairman Young Liu has repeatedly stated that the group's automotive business goal is not to build its own vehicle brand, but to become an ODM manufacturing giant in the automotive industry.