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Mitsubishi Motors to outsource EV production to Foxconn - report

Published 20/03/2025, 10:58
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Investing.com -- Mitsubishi Motors (OTC:MMTOF) of Japan, a smaller partner of Nissan (OTC:NSANY) Motor, has plans to delegate the production of its electric vehicles (EVs) to Foxconn (SS:601138), a Taiwan-based electronics contract manufacturer, according to a report by Kyodo News on Thursday.

This strategic shift is intended to help Mitsubishi reduce manufacturing costs and accelerate the development of its EV offerings, the report said.

Meanwhile, Foxconn, officially known as Hon Hai (TW:2317) Precision Industry, aims to establish a solid foundation for potential collaboration on EV projects with Nissan and Honda (NYSE:HMC), the repot added.

The outsourcing move by Mitsubishi is seen as a strategic step to streamline operations and enhance efficiency in the rapidly evolving EV market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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