Taiwanese technology group Foxconn is reportedly nearing a strategic agreement to supply electric buses to Mitsubishi Fuso Truck and Bus Corporation, a Japanese commercial vehicle manufacturer owned by Daimler Truck, according to a report published by Japan’s Nikkei newspaper on Thursday. The development is understood to signal a significant step in Foxconn’s ambition to expand its presence in the electric vehicle (EV) sector.
Citing a source familiar with the matter, Nikkei reported that Mitsubishi Fuso plans to market two electric bus models — the Model T and the Model U microbus — under its own brand. Both models have been developed by Foxconn and are part of the company’s broader push into EV manufacturing.
In addition to the supply arrangement, Mitsubishi Fuso and Foxconn are reportedly in discussions to establish a new joint entity that would oversee the electric bus operations, suggesting a long-term partnership that could strengthen both companies’ positions in the growing EV market.
Foxconn, formally known as Hon Hai Precision Industry Co., disclosed during a briefing in April that it aims to introduce the Model T and Model U buses to the Japanese market by 2027.
Foxconn has not issued an official statement regarding the reported deal and did not immediately respond to a request for comment from Reuters. Daimler Truck has also declined to comment.
-Reuters
