BEIJING (Reuters) – Cash-strapped Chinese startup Byton, Apple assembler Foxconn and the Nanjing Economic and Technological Development Zone have agreed to start building electric sport-utility vehicles in 2022, according to a statement on Monday.
Young Liu, chairman of Foxconn said in the statement that the partnership with Byton will be a key part in Foxconn’s strategy in electric vehicle (EV) industry.
The company last year announced plans to set up a joint venture with Fiat Chrysler to build electric cars and develop internet-connected vehicles in China. It has not made major announcement on the partnership since then.
Foxconn said in October it aimed to provide components or services to 10% of the world’s EVs by between 2025 and 2027.
Byton, which is backed by state-owned automaker FAW Group and battery …
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