Foxconn Agrees to Buy Half of Mitsubishi Electric Mobility for ¥115 Billion

Foxconn and Mitsubishi Electric have reached a definitive agreement to jointly operate Mitsubishi Electric’s automotive equipment business. Announced October 16, 2026, the deal would give Foxconn subsidiary Lin Yin International Investment a 50% holding in Mitsubishi Electric Mobility, at an expected share-transfer price of ¥115 billion.

The companies’ joint release and transaction notice describe an agreement awaiting completion—not a share transfer that has already closed. Completion is targeted for October 2027, subject to competition clearances, other required approvals and contractual conditions.

Understanding the price

The transaction assigns the target business an enterprise value of ¥320 billion and an equity value of ¥230 billion. The expected ¥115 billion payment corresponds to half of that equity value. It is therefore misleading to treat the payment as the purchase price for the entire business or to substitute enterprise value for the amount being paid.

The agreement follows an April 24 memorandum of understanding. Mitsubishi Electric also plans internal transfers and a company split to put the relevant business rights and obligations into the structure used for the joint operation.

A supplier deal with EV ambitions

In Foxconn’s announcement, the partners say the arrangement will combine Mitsubishi Electric Mobility’s electric-powertrain, software and vehicle-control expertise with Foxconn’s manufacturing scale and market-deployment capabilities. They aim to supply EV platforms developed in Japan and expand Japanese technology into global markets.

Those objectives are plans, not evidence that an unnamed production vehicle is ready for sale. The announcement does not provide a customer car’s price, driving range or delivery date. Its immediate significance is the proposed change in ownership and cooperation at an automotive supplier.

Mitsubishi Electric Mobility is the automotive-equipment business named in the deal; this is not an announced purchase of the Mitsubishi Motors carmaker. Readers can follow related supplier and manufacturing developments in Industry News.

Image credit: Archive: corporate nameboards at Tokyo Building, May 3, 2014—not the agreement signing. J. P. Morgan, also visible, is not a party to the announced transaction. Photo: Lombroso / Wikimedia Commons, CC BY-SA 3.0. Resized for display.