Foxconn and Mitsubishi Electric have signed a MOU

Summary by AI ^BETAClose X

Hon Hai Precision Industry Co. Ltd. has entered into a Memorandum of Understanding with Mitsubishi Electric Corporation to explore a strategic alliance focused on the automotive equipment business. This potential collaboration includes discussions for Foxconn to acquire a 50% stake in Mitsubishi Electric Mobility Corporation. The finalization of this joint operation is contingent upon reaching mutual agreement on commercial terms and satisfying regulatory requirements.

Disclaimer*

Hon Hai Precision Industry Co Ld

24 April 2026

Subject: Hon Hai and Mitsubishi Electric Exploring Automotive Equipment Business In MOU

Contents:

1.Date of occurrence of the event:2026/04/24

2.Company name: Hon Hai Precision Ind. Co. Ltd.

3.Relationship with the Company (please enter "the company itself" or "subsidiaries"):

The company itself

4.Reciprocal shareholding percentage: NA

5.Name of the reporting media: The company's press information

6.Content of the report:

Hon Hai Precision Industry Co. Ltd. (Foxconn) (TWSE:2317) and Mitsubishi Electric Corporation have signed a Memorandum of Understanding to explore a strategic alliance through joint operation of the automotive equipment business.

Under the MOU, discussions will begin toward joint operation, including transferring 50% of shares in Mitsubishi Electric Mobility Corporation ("Mitsubishi Electric Mobility") to Foxconn.

Whether this joint operation can be formally concluded remains subject to the parties' ability to reach mutual agreement on the commercial terms and compliance with relevant regulatory requirements.

7.Cause of occurrence: Regarding the company's press release.

8.Countermeasures: None

9.Any other matters that need to be specified: None

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