[News] Foxconn Reportedly Set to Acquire Sharp’s LCD Plant to Expand EV Production in Japan

Japanese electronics firm Sharp has announced it will sell its LCD plant in Kameyama, Mie Prefecture, to its parent company, Foxconn, as noted in a Nikkei report on the 12th. While Foxconn has yet to respond, sources suggest the move may be linked to its efforts to expand in Japan’s electric vehicle market, according to Economic Daily News.

Sharp Sells Underused LCD Facility to Foxconn

The report, citing Nikkei, indicates that Sharp’s Kameyama plant was originally focused on TV production. However, due to intensified competition from Chinese manufacturers and falling LCD prices, Sharp has sought to scale back its LCD business by selling off plant assets.

The facility currently produces small and medium-sized LCD panels for smartphones, tablets, and laptops. It comprises two production buildings, and the second, which has lower utilization and had its capacity cut to 80% last June, is being sold to Foxconn, the report adds.

Foxconn Eyes EV Manufacturing in Japan

Meanwhile, Foxconn is actively expanding its electric vehicle business. According to Economic Daily News, Foxconn’s Chief Strategy Officer for EVs, Jun Seki, previously stated that the company aims to promote EV design and contract manufacturing in Japan, with plans to eventually produce vehicles locally. He added that EVs launched in Japan around 2027 to 2028 would be manufactured domestically.

To support local production, Foxconn is considering acquiring underutilized automotive plants in Japan, while building a new factory remains an option, as indicated by Economic Daily News.

Foxconn’s EV Subsidiary Inks Deal with Mitsubishi

Foxconn recently announced that its subsidiary, Foxtron Vehicle Technologies, has signed a memorandum of understanding (MOU) with Mitsubishi Motors Corporation to co-develop and supply electric vehicles as an OEM model. Under the agreement, Foxtron will handle design and manufacturing management, with the vehicle expected to launch in Australia and New Zealand in the second half of 2026.

The EV model in question will be developed by Foxtron, manufactured by Yulon Motor, and sold under the Mitsubishi brand. TrendForce notes that this collaboration highlights two major trends in today’s automotive industry: First, traditional carmakers are increasingly seeking external partners to accelerate their transformation amid electrification and market uncertainties. Second, manufacturers from diverse backgrounds are emerging as key players in the evolving automotive supply chain, reflecting the sector’s growing openness to collaborative ecosystems.

Read more

• Mitsubishi Accelerates Electrification, Foxconn Expands Global EV Footprint—A Mutually Beneficial Partnership, Says TrendForce
• [News] Foxconn Clarifies No Plans for Own Car Brand, Seeks Nissan Partnership Under CDMS Model

(Photo credit: Foxconn)