Mitsubishi Motors plans to sell an electric vehicle developed by a unit of iPhone assembler Foxconn Technology Group in the second half of 2026, part of efforts to beef up its EV offerings.

Foxtron, a joint venture of Taiwan's iPhone manufacturer Hon Hai Precision Industry and Yulon Motor Co., has agreed with Mitsubishi Motors of Japan to develop an electric vehicle to be sold in Australia and New Zealand.

Mitsubishi Motors and Foxtron Vehicle Technologies said they had signed a memorandum of understanding and would "proceed with discussions towards a definitive agreement".