Japanese automaker Mitsubishi Motors is planning to outsource the production of its electric vehicles to Taiwanese company Hon Hai Technology Group.

The move is seen as a means for the automaker to save productions costs, and for Mitsubishi to allocate human and financial resources to product development.

Hon Hai Technology Group, also known as Foxconn internationally, has a strong interest in Japanese car makers, and even considered acquiring Nissan Motor last year.

Hon Hai Chairman Young Liu announced last week that the company expects to sign a contract with a Japanese car manufacturer within two months.

The need for alliances with other companies has also been pointed out by Nissan and Honda, whose proposed merger wound up falling through.