Mumbai, Jan. 26 -- Mitsubishi Fuso Truck and Bus Corporation (MFTBC) and Hon Hai Technology Group (Foxconn) have announced plans to establish a new standalone bus company, which will be headquartered in Kawasaki, Japan.

The new entity will be led by Katsuto Kora as the designated Chief Executive Officer. The transaction is expected to close in the second half of 2026, subject to regulatory and shareholder approvals.

The partnership involves Mitsubishi Fuso Bus Manufacturing (MFBM) and Foxtron Vehicle Technologies, which will cooperate on the development, production, supply chain management and sales of zero-emission buses, starting with the MODEL T and MODEL U models. Operations will be based at a plant in Toyama, where vehicles will be...