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China tech

Apple supplier Foxconn's EV project with China's Byton halted

Taiwanese company turns focus elsewhere as Chinese startup hits financial snag

The Byton M-Byte all-electric SUV: The Chinese EV startup had hoped to leverage Foxconn's supply chain expertise to get its production plans on track.   © Reuters

TAIPEI -- Foxconn's electric vehicle collaboration with Chinese startup Byton has been put on hold due to the latter's worsening financial situation, marking a setback for the Taiwanese iPhone assembler's automaking ambitions, Nikkei Asia has learned.

Foxconn announced in January that it would help Byton bring its first-ever EV to mass production by the first quarter of 2022. Multiple people familiar with the matter, however, say that the project was halted after less than six months and that the Taiwanese company has since shifted its focus to other ongoing EV projects, such as a joint venture with Thai oil and gas company PTT.

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