Foxconn pays $727M for half of Mitsubishi Electric’s car parts unit in EV push
Foxconn announced a $727 million investment to acquire half of Mitsubishi Electric Mobility, a Tier 1 auto supplier. The unit manufactures traditional vehicle components like alternators and sensors, plus a smaller electric powertrain division. This acquisition represents Foxconn's largest commitment to commercializing its long-stated EV manufacturing ambitions.
Key points
- Foxconn acquires 50% stake in Mitsubishi Electric Mobility for $727M
- Target is traditional auto supplier with EV powertrain operations
- Largest step yet in Foxconn's EV business development
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