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Wednesday 6 January 2021
Apple partner Foxconn helps revive EV startup Byton
Foxconn—the Taiwanese firm best known for contract manufacturing Apple electronics—is helping to prop up Chinese EV startup Byton.
The two companies have signed a "strategic cooperation framework" with the aim of finally getting the Byton M-Byte electric crossover into production by 2022, Byton said Monday in a press release.
Under the agreement, Foxconn will provide manufacturing expertise, as well as "solid operational management experience" and "industrial resources" to aid in the production launch of the M-Byte. Foxconn will also invest around $200 million in the project, according to a Bloomberg report.
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