MFTBC, Foxconn Announce Plan to Create New Bus OEM in Japan

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Mitsubishi Fuso Truck and Bus Corporation announced plans to create a standalone bus company with partner Hon Hai Technology Group. Katsuto Kora (currently Director, Head of FUSO BUS, Mitsubishi Fuso Truck & Bus Corporation) is designated as the new company’s CEO.

The two companies previously announced the signing of a memorandum of understanding to explore strategic collaboration in zero emission, accelerating clean mobility for the Japanese commercial vehicle powerhouse and the world’s largest electronics manufacturer. Via their subsidiaries - Mitsubishi Fuso Bus Manufacturing Co., Ltd. (MFBM) and Foxtron Vehicle Technologies (TWSE:2258) – MFTBC and Foxconn plan to cooperate in the development, production, supply chain management, and sales of ZEV buses, beginning with Foxtron-developed MODEL T and MODEL U.

Today’s announcement marks the next stage in the companies’ collaboration. The new company aims to fulfil society’s demand for high quality public transportation by accelerating the development of competitive, zero-emission buses in addition to the current diesel lineup. The buses will be developed and manufactured at the company’s plant in Toyama under the FUSO name, which already has over 90 years of heritage as a CV brand. The company will be headquartered in Kawasaki, Japan.

As a bus-dedicated OEM, the new company will focus on quickly developing and launching EV buses for domestic and international markets, while continuing to improve the conventional ICE portfolio.

With local development, sourcing, production and sales channels, the company will also be able to smoothly comply with Japanese regulations, quality standards and customer needs. This will be backed by Foxconn’s ZEV expertise, high-tech competency and global partnership network to help ensure products are successful in Japan and abroad.

Karl Deppen, CEO of MFTBC: “We are excited to join forces with Foxconn. This collaboration will combine the strengths of both parties to accelerate our transformation in the bus sector. By combining FUSO and Foxconn’s extensive experience and technological know-how, we will offer customers state-of-the art solutions for public transport, thereby contributing to society both in Japan and abroad.”

“Mobility is a strategic priority for Foxconn,” said Jun Seki, Foxconn Chief Strategy Officer for EVs. “This collaboration with MFTBC will provide a comprehensive electrification solution for Japan’s transportation ecosystem. This approach will significantly shorten development cycles and enhance cost-efficiency.”

Katsuto Kora, designated CEO of New Bus OEM: “The new joint venture will integrate the corporate cultures of both companies, blending Japan’s spirit of manufacturing excellence with Foxconn’s agility and technological prowess. Given the extensive existing partnerships of both shareholders, we expect even broader collaboration opportunities in the field of future technologies in the years to come. Our focus will be on meeting customer expectationsnot only for current conventional ICE improvement but also for zero-emission transportation and leading FUSO bus into a new era of digitalization and electrification.”

Having signed the definitive agreements today, MFTBC and Foxconn aim to close the transaction in the second half of 2026. The transaction is subject to all parties involved reaching an agreement and receiving approval from the relevant Boards, shareholders and authorities.