Mitsubishi looks to Taiwan for new EV
Mitsubishi is the first Japanese car maker to turn to Taiwan for a competitively priced electric vehicle (EV), with the company’s Australian arm confirming it will add the Foxconn-built ASX VR-e compact SUV to its lineup later this year.
Foxtron partnership brings Mitsubishi’s new EV to market
But in Mitsubishi’s case the new imported ASX VR-e is the result of a partnership with Taiwan-based Foxtron Vehicle Technologies Co. Ltd, which was founded in 2020 as a joint venture between Foxconn and Yulon Motor.The company focuses on the contract design and manufacture of vehicles for global automakers, as well as producing modular electric passenger cars and buses.
The battery electric Mitsubishi ASX VR-e is the first fruit of a memorandum of understanding (MOU) signed between the two parties in mid-2025, calling for a Mitsubishi badged all-electric SUV based on the Foxtron B platform.
Familiar ASX nameplate for new EV
The new model carries the familiar ‘ASX’ (Active Sports Crossover) badging that is well established in Australia via Mitsubishi’s range of internal combustion powered vehicles, which are priced between $34,990 and $46,490.
It’s not clear yet where the ASX VR-e will sit in terms of pricing versus these existing models, but some industry observers have speculated pricing is likely to range between $40,000 to $50,000, depending on the variant.
Mitsubishi ASX VR-e variants and expected pricing
Mitsubishi Australia has confirmed the ASX VR-e will be offered in four variants – LS, Aspire, Exceed and GSR – when it goes on sale in the fourth quarter but hasn’t released details of the battery and drivetrain.However, the ASX VR-e is based on the Taiwan-market Foxtron Bria which is sold there with a 57.5kWh battery and with the choice of a single 171kW rear-mounted electric motor, or a range-topping dual-motor version that produces a robust 298kW.
Performance credentials inspired by the Galant VR-4
The high-performance dual-motor version may provide a clue as to why Mitsubishi has chosen to highlight the new model’s ‘VR-e’ designation as a nod to the Galant VR-4, one of the brand’s most iconic high-performance sports sedans.The company is also playing up extensive local testing and chassis tuning by Mitsubishi Motors global and regional teams, with a view to endowing the new model with suitably responsive handling.
Dimensionally, the ASX VR-e is about the size of a small crossover or hatch so will likely be positioned against rivals like the BYD Atto 2, Jaecoo J5, GWM Ora 5, and newly released Geely EX2.
Other notable attributes of Mitsubishi’s new EV include a sleek, aero-optimised Pininfarina-design which incorporates a distinctive S-Duct to channel airflow from the centre of the front bumper over the hood surface, and active grille shutters to reduce drag.
Mitsubishi’s EV history and return to the segment
MMAL was an early mover in EV technology, releasing the diminutive i-MiEV here in 2010 to claim the title of Australia’s first mass-produced electric vehicle, but has been without an EV since 2014 when the i-MiEV was withdrawn from sale after notching up a modest 250 sales in four years.The company will likely be hoping its belated return to the EV fold, coming at a time when Australians are embracing the technology at record levels, will exceed those sales numbers in the first month on sale.
Related topics
Things to note
The information in this article has been prepared for general information purposes only and is not intended as legal advice or specific advice to any particular person. Any advice contained in the document is general advice, not intended as legal advice or professional advice and does not take into account any person’s particular circumstances. Before acting on anything based on this advice you should consider its appropriateness to you, having regard to your objectives and needs.
Insurance Products (excluding Travel Insurance) are issued by RACQ Insurance Limited ABN 50 009 704 152 (RACQI) and arranged by RACQ Distribution Services Pty Ltd (RDS) ABN 35 116 361 650, AFSL 567130 and RDS' authorised representatives (including RACQ Operations Pty Ltd ABN 80 009 663 414, AR No. 234978 (RACQO)). Conditions, limits and exclusions apply.
Any advice provided by RDS and RACQO is general advice only and does not take into account your personal objectives, financial situation or needs and you will need to consider whether the advice is appropriate for you. Read the Product Disclosure Statement (PDS) before making a purchase decision on the product. You can also access our Target Market Determinations on this website.
RDS receives a commission from RACQI for the policies it arranges. RACQO receives fees paid for services it provides to RDS. Further details about remuneration are available on request prior to purchasing.
Banking and loan products issued by Members Banking Group Limited ABN 83 087 651 054 AFSL/Australian credit licence 241195 trading as RACQ Bank. Terms, conditions, fees, charges and lending policies apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions, and consider if appropriate for you before deciding.
Except for RACQ Bank, any RACQ entity referred to on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). That entity’s obligations do not represent deposits or other liabilities of RACQ Bank. RACQ Bank does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.
RACQ Bank subscribes to the Customer Owned Banking Code of Practice which establishes higher standards than the law requires. The Code reflects modern consumer expectations and developments in approaches to issues such as consumer vulnerability, guarantors, and supporting customers through financial hardship. Please read our Customer Owned Banking Code of Practice page for more information.
RACQ Operations Pty Ltd (ABN 80 009 663 414, AR No. 234978) and Members Travel Group Pty Ltd (ABN 45 144 538 803, AR No.432492) (RACQ) are authorised representatives of the RACQ Travel Insurance insurer Tokio Marine & Nichido Fire Insurance Co., Ltd. (ABN 80 000 438 291 AFSL 246 548) (Tokio Marine). Tokio Marine Management (Australasia) Pty Ltd (ABN 69 001 488 455, AR No. 1313066) is an authorised representative of Tokio Marine, and administers RACQ Travel Insurance as the managing agent on behalf of Tokio Marine. Terms, conditions (including eligibility criteria), exclusions, limits and sub-limits apply. Any advice is general advice only, and does not take into account your specific objectives, financial situation or needs. Before you purchase, please consider the Combined Product Disclosure Statement (PDS) / Financial Services Guide (FSG) and Target Market Determinations (TMDs) available at racq.com or on request from RACQ.