Taiwan's Foxconn, the world's largest contract electronics manufacturer, sees significant potential for growth in Japan's electric vehicle (EV) market and is actively seeking partnerships with Japanese automotive companies. This ambition comes as Japanese automakers face increasing competition from Chinese EV brands that are aggressively expanding their market share in regions like Europe, Brazil, and Thailand.

Jun Seki, Foxconn's Chief Strategy Officer for EVs and a former senior executive at Nissan, emphasized this strategic focus during a seminar in Tokyo aimed at outlining the company's EV strategy to Japanese businesses. "Automakers are scattered all over the world," Seki stated. "We will of course work with all of these customers, but there are several points where we feel we have a strong affinity with Japan."

As part of its entry into the Japanese EV market, Foxconn plans to introduce an electric bus and a battery-powered microbus in the country by 2027. The company's EV business model will primarily focus on business-to-business services rather than directly targeting individual consumers.

In an earlier interview with the Nikkei newspaper, Seki expressed Foxconn's desire to collaborate with Nissan, although he noted that there are currently no active engagements between the two companies. However, he also described the idea of Foxconn participating in a broader partnership involving Honda, Nissan, and Mitsubishi Motors as "a great idea." Seki further confirmed that Foxconn is in the final stages of finalizing a deal with Mitsubishi Motors, Nissan's junior partner, to supply them with EVs.

During Wednesday's seminar, Seki reiterated that Foxconn is currently working with Mitsubishi, although he refrained from providing specific details. Sources had previously indicated to Reuters that Mitsubishi intends to outsource the production of EVs for the Oceania markets to Foxconn.

Earlier this year, Nikkei reported that Foxconn had proposed a partnership with Honda, with the long-term goal of establishing a four-way alliance that would also include Nissan and Mitsubishi, following the collapse of merger discussions between Honda and Nissan.

Foxconn has previously stated that it would consider acquiring a stake in Nissan, but its primary objective remains establishing collaborative partnerships within the Japanese automotive industry. The company's proactive approach underscores its ambition to become a key player in the global EV market by leveraging its manufacturing expertise and forging strategic alliances with established automakers.