Foxconn and Mitsubishi Electric target SDV with L4 autonomy and EV drive systems

Foxconn's planned JPY115 billion (US$726.83 million) investment in Mitsubishi Electric Mobility will create a joint venture to expand their electric-vehicle and autonomous-driving businesses globally. The deal combines Mitsubishi Electric's automotive technology and customer relationships with Foxconn's flexible contract development and manufacturing model, while testing whether shared ownership could speed future growth.