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Hon Hai and Mitsubishi Electric plan automotive equipment venture and EV platform
Hon Hai and Mitsubishi Electric plan to jointly operate an automotive equipment business, with Hon Hai set to indirectly hold 50% of Mitsubishi Electric Mobility Corporation. The share transfer is estimated at 115 billion yen and is expected to close on October 1, 2027, subject to conditions. They will combine technical development and commercialization capabilities to build a Japan-origin electric vehicle platform.
What to know
- 01
After completion, Mitsubishi Electric Mobility Corporation would become a joint venture in which Hon Hai indirectly holds a 50% stake.
- 02
Platform development will combine Mitsubishi Electric Mobility Corporation’s software and vehicle-control expertise with Hon Hai’s speed, scale and commercialization capabilities.
Why it matters
The partnership links joint automotive equipment operations with EV platform development, but the equity transaction remains subject to conditions.
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