Foxconn Buys 50% of Mitsubishi Auto Unit for $727M — SkimNews
Get the Tech newsletter
Daily tech — startups, AI labs, chips, the launches that shape the next decade. Free.
- Foxconn (Hon Hai Precision Industry Co.) is paying ¥115 billion (~$727 million) for a 50% stake in Mitsubishi Electric's automotive components unit
- Mitsubishi Electric will provide autonomous driving technology for Foxconn's electric vehicle platforms as part of the deal
Why it matters: Foxconn gains a Tier-1 automotive supplier foothold and autonomy IP for its EV ambitions in a single transaction, while Mitsubishi Electric gets a manufacturing-scale partner — a concrete step in Foxconn's multi-year push to become a major EV contract manufacturer outside its traditional electronics-assembly base.
Ask SkimNews
