鸿海与三菱电机设50:50电动车平台合资公司，但交易上周五已公告、2027年才交割，短期无新增业绩催化

TOKYO -- Taiwanese electronics manufacturer Foxconn and Japan's Mitsubishi Electric aim to build a global electric vehicle platform business through a 50-50 joint venture, the two companies said on Monday, marking a major cross-border partnership in the rapidly growing automotive segment.
The joint venture -- called Mitsubishi Electric Mobility, which is currently a wholly owned subsidiary of Mitsubishi Electric -- will combine Foxconn's scale and speed with Mitsubishi Electric's technology and manufacturing capabilities, Jun Seki, Foxconn's chief strategy officer for EVs, said at a news conference.
The partnership comes as Chinese EV makers like BYD rapidly expand their presence in the automotive market that has long been dominated by Japanese and German automakers, which are struggling to switch from their traditional strength in internal combustion technology.
Kazunori Tanaka, president of Mitsubishi Electric Mobility, said the partnership reflects the two companies' conviction that EVs represent the future of the automotive industry, with autonomous-driving technology set to become an indispensable part of future EVs.
"EVs are likely to account for 80% of the auto market," Seki noted. Seki joined Foxconn, the electronics assembler also known as Hon Hai Precision Industry, in 2023 after he served as chief operating officer at Nissan Motor and CEO at motor maker Nidec.
Kunihiko Kaga, executive vice president of Mitsubishi Electric, laid out his vision of building a global EV platform from Japan. "We are convinced by Foxconn's vision that quality and speed must be achieved at the same time," he said. Japanese automakers have been slow to embrace EVs and have seen their global market share decline in recent years.
The news conference followed an announcement on Friday that Mitsubishi Electric will sell a 50% stake in Mitsubishi Electric Mobility to an investment subsidiary of Foxconn for 115 billion yen ($730 million).
The transaction is expected to be completed in October 2027, subject to regulatory approvals.
For the fiscal year ending in March 2027, Mitsubishi Electric Mobility expects sales of 820 billion yen, with an adjusted operating profit margin of 9.3%.
Under the joint venture, the company aims for sales of 1 trillion yen by fiscal 2030. "We hope to achieve the 1-trillion-yen target as early as possible," Tanaka said.
The joint venture will continue to use the Mitsubishi Electric Mobility name for now. Seki said, however, that the partners could review the 50-50 ownership structure as the business develops.
"If the joint venture works out, I hope it will gain independence from the parent companies and pursue an initial public offering," Seki said.