Mitsubishi Fuso and Foxconn Joint venture for EV Buses

Kawasaki, Japan- Mitsubishi Fuso Truck and Bus Corporation (MFTBC), has announced plans to establish a standalone bus company in partnership with Hon Hai Technology Group (Foxconn). The new company will be led by Katsuto Kora, currently Director and Head of FUSO BUS at MFTBC, who has been appointed CEO.

This move follows an earlier memorandum of understanding between MFTBC and Foxconn to explore strategic collaboration in zero-emission vehicles (ZEVs), aimed at accelerating clean mobility solutions. Through their respective subsidiaries—Mitsubishi Fuso Bus Manufacturing Co., Ltd. (MFBM) and Foxtron Vehicle Technologies—the two partners will cooperate on the development, production, supply chain management, and sales of zero-emission buses. Initial products will include Foxtron-developed models such as the MODEL T and MODEL U.

The establishment of the new company represents the next phase of this collaboration. Its objective is to meet growing societal demand for high-quality public transportation by rapidly advancing competitive zero-emission bus offerings, while continuing to enhance the existing diesel portfolio. Bus development and manufacturing will take place at the Toyama plant under the FUSO brand, which carries more than 90 years of commercial vehicle heritage. The new company will be headquartered in Kawasaki, Japan.

As a bus-focused OEM, the venture will prioritize the fast development and launch of electric buses for both domestic and international markets, alongside ongoing improvements to conventional internal combustion engine (ICE) models. With localized development, sourcing, production, and sales, the company will be well positioned to meet Japanese regulatory requirements, quality standards, and customer expectations. This will be complemented by Foxconn’s expertise in zero-emission technologies, advanced electronics, and its global partner network.

Mr. Karl Deppen, CEO of MFTBC, stated that the partnership combines the strengths of both companies to accelerate transformation in the bus sector, delivering advanced public transport solutions for Japan and global markets. Jun Seki, Foxconn’s Chief Strategy Officer for EVs, highlighted mobility as a strategic priority for Foxconn and noted that the collaboration will help shorten development cycles and improve cost efficiency in Japan’s transportation ecosystem.

Katsuto Kora emphasized that the new joint venture will blend Japanese manufacturing excellence with Foxconn’s agility and technological capabilities. He noted that the partnership is expected to open broader collaboration opportunities in future technologies, while advancing both zero-emission transportation and the digitalization and electrification of FUSO buses.

Definitive agreements have now been signed, with both companies targeting transaction closure in the second half of 2026, subject to approvals from boards, shareholders, and relevant authorities.

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