Hon Hai plans to acquire a 50% stake in Mitsubishi Electric's automotive parts business for 115 billion yen.

```htmlFoxconn Technology will invest 115 billion yen (approximately 727 million US dollars) to acquire a 50% stake in Mitsubishi Electric's automotive parts business. The goal of both parties is to build this business into a company with sales exceeding 1 trillion yen. At a press conference held in Tokyo on Monday, the two companies stated that Mitsubishi Electric will provide electric power systems, autonomous driving, and in-car smart technology for Foxconn's electric vehicle platform. This cooperation enables Foxconn to further gain a foothold in the automotive industry, helping extend its "contract manufacturing" model into the electric vehicle sector. Meanwhile, Mitsubishi Electric gains a partner that will help expand the scale of its automotive parts business.```