The agreement values Mitsubishi Electric’s automotive division at 320 billion yen; the two groups are focusing on electrification, autonomous driving and software-defined vehicles.
Foxconn (Hon Hai) has signed a definitive agreement to acquire 50% of Mitsubishi Electric Mobility, the subsidiary of Mitsubishi Electric's automotive equipment, for 115 billion yen (approximately 646 million euros). The participation will be led by Lin Yin International Investment, the investment structure of the Taiwanese group. The transaction values the entity at 320 billion yen in corporate value and 230 billion yen in equity.
Autonomous driving and software at the heart of the alliance
The two partners will jointly exploit the activity, combining Mitsubishi Electric's expertise in powertrains, software and vehicle control with Foxconn's industrial capacity to produce fast and volume. The alliance targets electrification, self-driving and software-defined vehicles, with Mitsubishi bringing its range technologies to Foxconn's electric vehicle platforms.
The platforms will first be offered to Japanese manufacturers, before a medium- and long-term global broadcast. The transaction, still subject to authorisation by the competition authorities, is due to close on 1 October 2027.
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