Hon Hai agrees to acquire 50% of Mitsubishi Electric Mobility for $727.5 million — Taipei Times

According to Taipei Times, Taiwan’s Hon Hai Precision Industry, known worldwide as Foxconn Technology Group, has signed an agreement to acquire 50% of Mitsubishi Electric Mobility from Japan’s Mitsubishi Electric. The transaction will be worth 115 billion yen, or $727.5 million.

Deal through a subsidiary

The stake in Mitsubishi Electric Mobility will be acquired by Hon Hai’s subsidiary, Lin Yin International Investment Co. After the transaction is completed, Hon Hai and Mitsubishi Electric will jointly manage Mitsubishi Electric Mobility, which operates in the automotive equipment sector.

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The closing of the deal depends on the fulfillment of conditions stipulated in the contract, including obtaining the necessary approvals and permits from relevant authorities under antitrust legislation and other regulations. Hon Hai expects to complete the transaction by October 1, 2027.

Cooperation in electric mobility

Hon Hai said the partnership is intended to combine Mitsubishi Electric Mobility’s technological and development capabilities, particularly in electric powertrains, software and vehicle control systems, with Hon Hai’s speed to market and scale. In the medium and long term, the partners plan to bring Japanese technology and quality to global markets.