Mitsubishi Motors to Outsource EV Production to Foxconn

Tokyo, March 20 (Jiji Press)--Mitsubishi Motors Corp. plans to outsource production of electric vehicles to Foxconn, a Taiwanese contract electronics manufacturer, people familiar with the matter said Thursday.

The move by the Japanese automaker is designed to cut production costs and shorten development time as the company seeks to broaden its EV lineup.

Foxconn, formerly called Hon Hai Precision Industry Co., said in an earnings call on Friday that it will sign a deal within two months to design and manufacture EVs on behalf of a Japanese customer.

Mitsubishi said in a statement that the company will continue to explore opportunities for collaboration with various partners.

The company is already in partnership over EVs with Japanese automakers Honda Motor Co. and Nissan Motor Co.

[Copyright The Jiji Press, Ltd.]