Apple supplier Foxconn halts EV project with China's startup Byton: Report

The project has reportedly not been officially terminated yet, but is currently facing challenges.Foxconn's plans to build factories in the United States and Thailand to assemble entire vehicles in 2023 are still in place.
By : Reuters
| Updated on: 15 Sep 2021, 17:08 PM
A charging cable is pictured plugged into a an electric vehicle (EV). (File photo used for representational purpose only) (AFP)
A charging cable is pictured plugged into a an electric vehicle (EV). (File photo used for representational purpose only) (AFP)
A charging cable is pictured plugged into a an electric vehicle (EV). (File photo used for representational purpose only) (AFP)
A charging cable is pictured plugged into a an electric vehicle (EV). (File photo used for representational purpose only)

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.

(Also read | EV startup Fisker ties up with Foxconn to manufacture electric cars)

Similar Cars

Find More Cars
Hyundai Kona Electric (HT Auto photo)
Hyundai Kona Electric
cc | Electric | Automatic
₹23.79 - 23.98 Lakhs**Ex-showroom price
Tata Tigor Ev (HT Auto photo)
Tata Tigor Ev
Electric | Automatic
₹11.99 - 13.14 Lakhs**Ex-showroom price
Tata Altroz Ev (HT Auto photo)
UPCOMING
Tata Altroz Ev
 
₹12 - 15 Lakhs* *Expected Price
Tata Nexon Ev (HT Auto photo)
Tata Nexon Ev
Electric | Automatic
₹13.99 - 16.85 Lakhs**Ex-showroom price
Tata Nexon Ev Max (HT Auto photo)
Tata Nexon Ev Max
Electric | Automatic
₹17.74 - 19.24 Lakhs**Ex-showroom price
Mg Zs Ev (HT Auto photo)
Mg Zs Ev
Electric | Automatic
₹21 - 24.68 Lakhs**Ex-showroom price

A few Foxconn employees are still stationed at Byton's factory, another source said, but "they are wrapping things up and preparing for the end when it becomes necessary." Some higher-level talent involved in the project has even left Foxconn, the report added.

FOLLOW US:Stay Updated with latest content - Subscribe us on
FOLLOW US:Stay Updated with latest content - Subscribe us on

(Also read | Fisker teams up with Apple supplier Foxconn for EVs, aims at Indian market)

Foxconn's plans to build factories in the United States and Thailand to assemble entire vehicles in 2023 are intact, according to Nikkei. Foxconn declined to comment, while Byton did not immediately respond to a request for comment. 

First Published Date: 15 Sep 2021, 17:08 PM IST
Recommended For You
View All
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking VIEW OFFERS you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city