Just days after reports emerged that Taiwanese contract manufacturer Foxconn was close to finalizing deals with two Japanese automakers, unnamed sources report that Mitsubishi is one of the firms involved. If the deal goes through, it could mark a major shift, with Mitsubishi potentially outsourcing EVs production to Foxconn.

For several years, Foxconn has been trying to lower its dependence on consumer electronics and expand into the EV market, viewing it as an important growth driver. It wanted to take a 5% share of the global EV market by 2025 and has previously signed deals with Lordstown, Fisker, and China’s Byton. While it’s yet to achieve the growth it had hoped for, a deal with Mitsubishi could be a major breakthrough for the firm.

Read: Foxconn Gearing Up To Build Four New EVs, Including Two From Japanese Brands

According to Nikkei Asia, Foxconn has been in talks with Mitsubishi for over six months. The company views this partnership as an opportunity to prove its manufacturing capabilities, hoping it will help attract other established carmakers.

Details about which Mitsubishi EVs Foxconn might produce are still unclear. The Japanese automaker is expected to launch a new EV in the US next year, with little confirmed about the model. However, early reports suggest it could be a crossover coupe, which would add another option to the growing EV market.

Foxconn’s Broader EV Plan

Foxconn had expressed an interest in acquiring Nissan late last year, but Nissan would ultimately go on to have discussions with Honda about a potential merger. However, talks fell through in early February. The Taiwanese company is still said to be open to taking a stake in Nissan and will likely try to secure a deal to build the brand’s future EVs.

At this point, Foxconn has plenty on its plate as it looks to play an increasingly important role in the EV market. In addition to working with established brands, it will begin production of its in-house Model B, an all-electric hatchback similar in size to the VW ID.3. It also wants to start building the larger Model C in North America during the fourth quarter of this year.

Taiwanese contract manufacturer Foxconn has revealed it’s close to inking deals with two Japanese car manufacturers to design and manufacture a pair of EVs. While limited details about these new models are known, they will be brought to life alongside two of Foxconn’s in-house EVs, namely the Model C and Model B.

Foxconn has been ratcheting up its involvement in the car industry for several years now. At one point, it announced it would invest up to $170 million to build Lordstown Motors’ Endurance pickup truck, but that project was later scrapped. It is also said to have expressed keen interest in acquiring Nissan, before the Japanese brand would go on to enter ill-fated negotiations with Honda about a potential merger.

Read: Foxconn Unveils Model C, Model E And Model T EVs With Up To 740 HP

While speaking at an investor conference earlier this month, chairman Young Liu said the company expects to sign agreements with two Japanese firms in the next two months. Foxconn will use its “contract design and manufacturing services (CDMS) business model” in the development of these new EVs.

There’s no word on which two marques Foxconn is talking to. It’s certainly possible that one of them could be Nissan, as a report from early February indicated that after the latter’s merger with Honda fell through, it has expressed its willingness to work with technology companies. Foxconn could be one of them, and teaming up with it would also provide Nissan with a valuable cash infusion.

Foxconn Model C

Foxconn’s Own EVs

While the Taiwanese giant is busy finalizing contract manufacturing deals, at the same time it’s also pushing forward with its own EVs. Focus Taiwan reports that the Model C will enter production in North America during the fourth quarter of this year. The electric crossover was previewed as a concept back in October 2021 and, in concept guise, had a claimed range of 435 miles (700 km). Given it’s been almost three and a have years since the concept’s unveiling, the production model may sport some changes.

Arriving before the Model C will be Foxconn’s Model B, reportedly set to reach the production line in the middle of this year. The Model B was previewed in 2022 and is similar in size to the VW ID.3. It was designed by Pininfarina, is powered by a single electric motor with 230 hp, and has a claimed range of 280 miles (450 km).

Foxconn Model B