Foxconn Eyes Electric Vehicle Collaboration with Japanese Automakers

Taiwanese technology giant Foxconn, meanwhile, is laying the groundwork to take advantage of Japan’s ramping up of electric vehicle (EV) production. Jun Seki, Chief Strategy Officer for EVs, is loquaciously confident about his chances to forge alliances with Japan’s automakers. In particular, he names Nissan, Mitsubishi, and Honda as major partners. He underscored that Japan represents an outsized opportunity for Foxconn’s continued expansion in the EV space.

Foxconn has been looking to cement final agreements with Japanese firms as quickly as possible. Seki underscored the need for these partnerships, stressing that automakers are now “strewn across the globe.” Additionally, Foxconn is reportedly working on establishing a larger network in Japan. Even more importantly, this strategy has become essential as the entire nation faces increasing competition from Chinese EV brands.

Foxconn has a big picture plan to outgrow the competition. By 2027, the company intends to introduce one electric bus and one battery-powered microbus in Japan. These vehicles are more business-to-business services. The consumer vehicles are part of a larger strategy under this as one-one supplying consumer markets. This strategy not only lets Foxconn double down on its manufacturing expertise, but dovetails nicely with what Japanese companies are looking for.

Foxconn is no longer in negotiations with Nissan at this time. It is fair to say it wants to work with the company. In fact, previous rumors indicated that Foxconn would buy a stake in Nissan. What is perhaps more important, Seki underscored, is that the intent is not to pursue eventual ownership of an asset, but rather a collaborative partnership.

Now Foxconn is reportedly deep into finalizing an agreement with Mitsubishi to supply the EVs. This change further signals its commitment to deepening ties within the Japanese automotive industry. The firm has introduced a three way deal with Honda. Their aim is to develop an inclusive, four-way dialogue framework that brings together various stakeholders from the EV ecosystem.

Tokyo seminar where Foxconn laid out its EV strategy added emphasis on need for cooperation and partnership with Japan’s automakers. Seki’s experience as a former senior executive at Nissan adds weight to Foxconn’s intentions and offers insights into the needs and challenges faced by Japanese manufacturers.