EVsBloomberg Techabout 2 hours ago
Foxconn Acquires 50% Stake in Mitsubishi Auto Unit
1 min read
Hon Hai Precision Industry Co., known as Foxconn, pays ¥115 billion or $727 million to acquire a 50% stake in Mitsubishi Electric Corp.'s automotive-components unit. The deal aims to create a business exceeding ¥1 trillion in sales. Mitsubishi will provide autonomous driving and electric powertrain technology for Foxconn's EV platforms.
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