The funding injection would allegedly help Byton begin manufacture of its M-Byte electric car by the first quarter of 2022. Although that information is not confirmed, and sources have not been named.<\/p>\n
Byton is one of a slew of new Chinese electric vehicle makers that are aiming to become key players in a globalized market.<\/p>\n
However, Byton hasn\u2019t seen the same success that competitors BYD, NIO, and Xpeng are experiencing.<\/p>\n
In July 2020, Byton had to suspend operations production of its first EV<\/a>, the M-Byte, which was unveiled as a concept a few years earlier. It also had to lay off non-essential staff as it failed to secure funding.<\/p>\n Whilst Foxconn and Byton have not commented on this potential deal, if it comes through, it will no doubt throw a substantial lifeline to the electric carmaker struggling to bring its vision to reality.<\/p>\n Foxconn also currently supplies components to other EV makers, Tesla being one of them.<\/p>\n With recent reports that Apple is also developing its own electric car<\/a>, it will be interesting to see if Foxconn leverages its position as one of the iPhone makers\u2019 key suppliers to also assist it with its motoring escapades.<\/p>\n <\/p>\n <\/a>SHIFT<\/a> is brought to you by Polestar. It\u2019s time to accelerate the shift to sustainable mobility. That is why Polestar combines electric driving with cutting-edge design and thrilling performance.<\/span><\/i> Find out how<\/span><\/i><\/a>.<\/span><\/i><\/p>\n Published January 4, 2021 \u2014 10:28 UTC <\/p>\n
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