[1] In February 2020, Taiwanese electronic components giant Foxconn and local car manufacturer Yulon agreed to establish a joint venture company.

[3] The joint venture's first product was the MIH (Mobility in Harmony) open EV platform, unveiled in October 2020 at the annual Hon Hai Technology Day (HHTD).

[6] The Foxtron joint venture was formed that November,[7] using an outsourcing business model which the company calls Commissioned (or Contract) Design and Manufacturing Service (CDMS), under which Foxtron assumes the vehicle engineering design, styling, component supply chain management, and production management roles, while manufacturing is performed by another company.

[11][12][13] The start of trial testing of the Model T bus was scheduled for 2022;[14] the first buses were delivered to transit agencies in the southern Taiwan cities of Kaohsiung and Tainan in March and October 2022[15] and one was imported to Bali to transport guests for the G20 Summit that November.

[22] In October 2023, at the annual HHTD event, Liu Yangwei appeared with Nvidia CEO Jensen Huang and the production version of the Model B; they announced the companies would build "AI factories" to develop autonomous driving software.

[25][26] Foxtron went public on Monday, November 20, 2023; shares on the Taiwan Stock Exchange closed down 9% on the first day of trading, amid concerns the demand for EVs was slowing.

[29] The Foxtron MIH open platform is a modular skateboard chassis which carries the traction battery under the cabin floor, within the wheelbase of the vehicle.