Foxconn has presented three new complete vehicle reference models: MODEL A+, MODEL K+ and MODEL K. They cover a B-segment SUV, a youth-oriented model and a light commercial truck aimed at the Japanese market.
All three are built on the group’s open platform, and customers can customise exterior design, powertrain configuration and interior to match their own brand positioning. It is the third concentrated release of reference vehicles since the MIH open platform was set up in 2021.
A JPY 115 billion supply chain shortcut
Alongside the vehicles, Foxconn completed a significant move on the supply side. According to an official Hon Hai Technology Group announcement, its investment company Lin Yin will acquire 50 per cent of Mitsubishi Electric Mobility from Mitsubishi Electric for JPY 115 billion, roughly RMB 5.4 billion. Closing is expected in October 2027.
Mitsubishi Electric disclosed that the transaction is expected to produce a book loss of around JPY 100 billion.
Mitsubishi Electric Mobility makes automotive electrical equipment and powertrain components, and its customer base covers most major Japanese carmakers. The sale reflects a retrenchment among traditional Japanese component suppliers under pressure from electrification.
For Foxconn, the deal buys technical depth and customer relationships in the Japanese automotive supply chain at a moment when its own vehicle business still lacks large-scale production orders.
Foxconn has taken contract manufacturing work from customers including Lotus, but has yet to convert that into meaningful volume.
Chairman Young Liu has said on several occasions that the group’s automotive ambition is not to establish its own vehicle brand but to become the contract manufacturing giant of the car industry.
Editor’s note: This is an adapted translation of the original Gasgoo report. It has been trimmed and restructured for readability for an international business audience. The full original (in Chinese) is at https://auto.gasgoo.com/news/202611/4I70476847C109.shtml.