Foxtron operates under the majority ownership of Hon Hai Precision Industry Co. The entity (TW:2317) formalized a collaborative agreement through a Memorandum of Understanding (MoU) with Mitsubishi Motors (OTC:MMTOF) to jointly develop a new electric vehicle (EV).
The agreement stipulates that Foxtron will deliver specialized design and manufacturing management services to create an electric vehicle model uniquely suited for Mitsubishi Motors. The upcoming vehicle will utilize one of Foxtron’s current passenger EV platforms—Model C, E, B, or D—for its foundation and production will occur in Taiwan.
The electric vehicle emerges from production to face its scheduled market introduction across Australia and New Zealand in the latter portion of 2026. Both companies execute a strategic expansion into the Oceania market while addressing the growing demand for electric mobility solutions.
The announcement triggered a favorable response from Morgan Stanley which expressed confidence in Foxtron’s potential within the EV sector. The company announced, "We view this as a good start and expect further EV project wins and market exposure expansion, once the project is delivered smoothly."
Morgan Stanley does not presently analyze Foxtron (2258.TW), however Mitsubishi Motors (7211.T) falls under their coverage with Hiroto Segawa as the responsible analyst.
The collaboration between Foxtron and Mitsubishi Motors marks a significant advancement for both companies within the dynamic and fiercely contested international electric vehicle market.