Apple Supplier Foxconn Eyes Second Japanese EV Deal To Counter China's Auto Surge

Apple Inc. (NASDAQ:AAPL) supplier Foxconn is set to announce a partnership with a second Japanese auto manufacturer as the Taiwanese manufacturer turns towards EVs.

What Happened: The company's chairman, Young Liu, shared the announcement at the company's annual investor meeting, Reuters reported on Thursday.

"There are two Japanese automakers; one has already been announced, and the other is almost ready to be," Liu said at the meeting. Foxconn recently signed an MoU (Memorandum of Understanding) with Japanese carmaker Mitsubishi Motors to develop an EV.

The company views partnerships with Japanese companies as integral to offset the threat posed by Chinese EV brands expanding into various regions in Europe, the report suggests.

Why It Matters: The announcement comes in as several Chinese EV players are bolstering their presence in markets outside of China, like Europe, as well as other parts of Asia.

Recently, BYD Co. Ltd. (OTCPK: BYDDY), which is currently the world's leading electric carmaker, released the Euro-spec version of the company's Seagull hatchback EV in Europe called the Dolphin Surf EV.

BYD also overtook Elon Musk's Tesla Inc. (NASDAQ:TSLA) in European sales, as ACEA (European Automobile Manufacturers' Association) data showcased, as the company registered better sales in April 2025 in many markets in the region.

Besides BYD, NIO Inc. (NYSE:NIO) also announced plans to expand its footprint into Europe with the Firefly EV. However, the company has delayed the launch, citing sales network constraints.

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