Foxconn agrees to acquire half of Mitsubishi Electric Mobility
鴻海、三菱電機モビリティの株式50％取得で合意ビジネス
- Country:
- 🇯🇵 Japan
- Voice:
- 🇺🇸 Alex
英語本文
Electronics manufacturer Hon Hai Precision Industry, known as Foxconn, has signed an agreement for its investment subsidiary Lin Yin International Investment to acquire 50% of Mitsubishi Electric Mobility, a Japanese automotive-equipment company. Foxconn and Mitsubishi Electric announced the agreement on October 16, with an expected share-transfer price of ¥115bn (about $727m).
The companies expect the transfer to be completed on October 1, 2027, subject to required regulatory and competition approvals and other contractual conditions. After completion, they plan to operate Mitsubishi Electric Mobility as equal co-owners. The transaction excludes Mitsubishi Electric’s power-semiconductor business. Mitsubishi Electric established the automotive-equipment unit as Mitsubishi Electric Mobility in April 2024.
The partners intend to combine Mitsubishi Electric Mobility’s electric-powertrain, software and vehicle-control capabilities with Foxconn’s manufacturing scale and speed in bringing products to market. They plan to develop electric-vehicle platforms in Japan, offering them first to Japanese carmakers before expanding globally over time.