Apple supplier Foxconn struck a deal with Chinese electric vehicle startup Byton to put the company’s first car into production in 2022.
These cross-businesses are part of a giant manufacturing structure such as Foxconn. However, at a time of rumors surrounding the hypothetical electric car from the Cupertino company, the issue is heating up on the assembly line.
Foxconn to manufacture electric car for Byton
Foxconn plans to invest $ 200 million in the venture. According to Bloomberg, both companies have plans to start mass production of the electric SUV Byton M-Byte in the first quarter of 2022.
The deal could help afflicted Byton, who recently missed a promised deadline to launch the M-Byte in the Chinese market in 2020. However, the partnership also suggests a big bet by Foxconn in the electric vehicle market.
But will it be relevant to the Apple project?
The direct impact cannot be seen at this stage. However, it is a significant investment not only in manufacturing equipment, but also in experience. The Taiwanese company is the largest partner in Apple’s supply chain.
Foxconn is known for producing the iPhone and other products for the tech giant in Cupertino, which is also eyeing the electric car market.
As we have seen, rumors have recently intensified about the development of the Titan project, Apple’s involvement in the world of electric cars, which began to be talked about in 2014. Recent reports indicate that working with Apple vehicles can bear fruit in the decade 2020.
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