鸿海拟1150亿日元收购三菱电机汽车业务50%股权组合资公司，主攻电动车与自动驾驶

Foxconn's planned JPY115 billion (US$726.83 million) investment in Mitsubishi Electric Mobility will create a joint venture to expand their electric-vehicle and autonomous-driving businesses globally. The deal combines Mitsubishi Electric's automotive technology and customer relationships with Foxconn's flexible contract development and manufacturing model, while testing whether shared ownership could speed future growth.

Foxconn will acquire a 50% stake in Mitsubishi Electric Mobility, Mitsubishi Electric's automotive components unit, through Lin Yin International Investment, an investment management company under the Foxconn Group. The transaction is expected to be completed by October 2027. Mitsubishi Electric Mobility will then become equally owned by the two companies and will no longer be consolidated by Mitsubishi Electric.
The companies announced the deal at a joint press conference in Tokyo on October 19. They said the partnership would target annual revenue of more than JPY1 trillion in fiscal 2030, which runs from April 2030 to March 2031. The transaction has an enterprise value of JPY320 billion.
Pairing automotive technology with manufacturing reach
Mitsubishi Electric will provide technologies covering electric powertrains, autonomous driving, and in-vehicle intelligence for electric-vehicle platforms developed by Foxconn. The companies also plan to combine Mitsubishi Electric's long-standing relationships with traditional automakers and Foxconn's fast and flexible development model.
They aim to expand beyond conventional automotive components into electric-vehicle and autonomous-driving platforms. Foxconn is seeking to extend its contract design and manufacturing services model into electric vehicles, while Mitsubishi Electric expects the partnership to strengthen and accelerate its automotive components business.
Foxconn Chief EV Strategy Officer Jun Seki said Foxconn valued Mitsubishi Electric Mobility's electronic control technologies, including inverters and controllers. The unit also has software resources and technical expertise in advanced driver-assistance systems and software-defined vehicles, which Foxconn said would help it deepen ties with future partners.
Seki said the partnership was expected to advance Mitsubishi Electric Mobility's work on a next-generation ultra-high-speed compact electric drive unit built with inverter and software technologies. The partnership would also support an advanced driver monitoring system and stronger foundations for Level 4 autonomous driving. He said the companies were already pursuing specific synergies.
Kuniyoshi Tanaka, president of Mitsubishi Electric Mobility, said the partnership would allow the company to maximize its strengths in electric powertrains, autonomous driving, and in-vehicle intelligence. Over the medium to long term, the company plans to take Japanese technology and quality to global markets.
Mitsubishi Electric Mobility generated revenue of JPY876 billion and operating income of JPY54 billion in fiscal 2025. Mitsubishi Electric Executive Vice President Kunihiko Kaga called Foxconn the best partner and said the companies would pursue the JPY1 trillion revenue target through appropriate capital investment.
Managing equal ownership and execution risks
The equal-ownership structure was selected because the companies believed it would best accelerate growth. Seki said the two companies had different strengths and areas with which they were less familiar, making an equal partnership the preferred starting point.
He acknowledged that equal ownership could raise concerns about slower decision-making. However, Seki pointed to the close personal relationship between Mitsubishi Electric President Keiichi Kakizaki and Foxconn Chairman Young Liu. Seki will also join the joint venture's board to help support fast operational decisions.
Mitsubishi Electric Mobility will temporarily retain the Mitsubishi brand after the transaction. Seki said that if the joint venture exceeded JPY1 trillion in revenue in 2030, it would consider an initial public offering. Such a move could reduce restrictions from the parent companies and allow the business to raise funds independently.
The partnership also reflects Foxconn's experience acquiring Sharp Corp. Seki said Foxconn had intervened despite lacking experience operating a branded business, and the results had been unsatisfactory. Because Mitsubishi Electric already has established automotive customer relationships and brand influence, Foxconn plans to delegate execution authority to Mitsubishi Electric while focusing on supporting the realization of synergies.