Foxconn, through its subsidiary Lin Yin International Investment, is acquiring a 50 percent stake in Mitsubishi Electric Mobility. The deal establishes a joint venture between the Taiwanese manufacturer and Mitsubishi Electric, with the transaction valued at ¥115 billion, or approximately €650 million.
The valuation of the deal is based on a total company value of ¥320 billion and an equity value of ¥230 billion. The partners expect to finalize the acquisition by October 1, 2027, pending necessary regulatory approvals.
The joint venture will focus on developing platforms for electric vehicles, power electronics, and autonomous driving systems. Operations will initially center on Japan, with long-term plans to expand these technologies into global markets.
Mitsubishi Electric Mobility, based in Tokyo, currently employs approximately 6,400 people. The company specializes in automotive components, software, and services, including electric powertrains and vehicle control systems.
Following the investment, the partners aim to increase the subsidiary's sales to ¥1 trillion, equivalent to €5.63 billion. The collaboration intends to combine Mitsubishi Electric's technical expertise with Foxconn's manufacturing scale and market deployment capabilities.
