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Investing.com -- Foxtron, a company majorly owned by Hon Hai (TW:2317), has announced the signing of a Memorandum of Understanding (MoU) with Mitsubishi Motors (OTC:MMTOF). This agreement outlines Foxtron’s plan to provide design and manufacturing management services for an electric vehicle (EV) model to Mitsubishi Motors.
The EV model will be based on one of Foxtron’s own passenger EV designs, specifically Model C, E, B, or D. Manufacturing of the EV is planned to take place in Taiwan. Following the production, the vehicle is expected to be introduced to the markets of Australia and New Zealand during the latter half of 2026.
Morgan Stanley (NYSE:MS), an American multinational investment bank, has responded positively to this development. Their statement indicates optimism about Foxtron’s future in the EV market, saying, "We view this as a good start and expect further EV project wins and market exposure expansion, once the project is delivered smoothly."
Foxtron, listed as 2258.TW, is not currently covered by Morgan Stanley. On the other hand, Mitsubishi Motors, listed as 7211.T, is covered by Hiroto Segawa. The collaboration between Foxtron and Mitsubishi Motors signifies a significant step for both companies in the rapidly evolving EV market.
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