KATHMANDU: Taiwanese technology company Foxconn, better known as the iPhone assembler, has entered into an agreement with Mitsubishi Motors of Japan to develop and supply electric vehicles (EVs).
Under the OEM agreement, Foxtron Vehicle Technologies, a joint venture between Foxconn and Taiwanese automaker Yulon Motor, will design the vehicle to be produced by Yulon for Mitsubishi.
OEM agreement is a contract between two companies where a supplier produces components or products for the buyer to be sold under the buyer’s brand.
The EV developed by Foxtron could go on sale in Australia and New Zealand in the second half of 2026. The car will be based on Model B. Foxtron first showcased the Model B, a hatchback, at the Consumer Electronics Show held in Las Vegas, US, in January.
The two companies will use Foxtron’s Contract Design and Manufacturing Service model, which uses a modular and open platform to accelerate EV development.
Mitsubishi is also strengthening its EV portfolio with OEM supply deals with Renault and Nissan.
