Apple supplier Foxconn halts EV project with China’s Byton
Bengaluru: Apple supplier Foxconn’s electric vehicle project with Byton has been put on hold due to the Chinese startup’s worsening financial situation, the Nikkei newspaper reported on Wednesday citing unidentified sources with knowledge of the matter.
“The project is not officially terminated yet, but it is very challenging to proceed at this moment,” one of the sources told Nikkei Asia.
Foxconn said in January that the Apple assembler and the Nanjing Economic and Technological Development Zone had agreed to start building electric sport-utility vehicles in 2022 for Byton.