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    After Sydney floods: ‘Everybody is traumatised’

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    Mumbai: Heavy rains brought life to a standstill in Indian city

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    Delhi-Dubai SpiceJet flight diverted to Karachi after the malfunction

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    Chinese property developers accept farm produce for homes

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    Drought emergency declared in northern Italy

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    Typhoon Chaba: 12 bodies found after South China Sea shipwreck

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    Australia floods: 50,000 on evacuation alert after Sydney deluge

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    Highland Park shooting: Man arrested after July 4th mass shooting

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    Rishi Sunak and Sajid Javid left Boris Johnson’s cabinet

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    Twelve members of religious group arrested over Australian girl’s death

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    PM Modi sends best wishes to Joe Biden on America’s 246th Independence Day

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    Saudi Arabia’s cabinet appoints first female deputy secretary

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    Chris Pincher: PM under pressure for an appointment

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    Xi’s speech on 25th anniversary of HKSAR receives a positive response

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    UAE-Indonesia to increase annual bilateral trade to $10 billion

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    Norway calls for off-gas attacks that threaten UK supplies

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    India bans service charges in hotels and restaurants

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    British Airways cancels 1,500 more flights

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    Delhi-Dubai SpiceJet flight diverted to Karachi after the malfunction

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    Chinese property developers accept farm produce for homes

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    Tata Steel acquires Nilachal Ispat Nigam for Rs 12,100 crore

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    Prices in Turkey increased at the fastest rate in 24 years

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    Major action against Chinese giant Vivo as raids at 44 locations in India

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    New Maruti Suzuki Brezza launched at Rs 7.99 lakh, already crosses 45,000 bookings

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    WhatsApp is rolling out the ability to hide ‘online’ status from everyone

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    OnePlus Nord 2T launched in India: Top Features, Price and Specifications

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    Canadian admits to hacking with Russian Cyber Gang

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    UAE: Etisalat launches free app for voice and video calls

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    Susie Steiner: Author of Manon Bradshaw detective novels dies at 51

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    India urges Canadian authorities to remove poster of Leena Manimekalai’s ‘Kaali’ documentary

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    Miss India 2022 winner Sini Shetty took home the crown

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    Peter Brooke: British stage director great dies at 97

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    Technoblade: Minecraft YouTuber dies of cancer at 23

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    Red Hot Chili Peppers cancel Glasgow concert after illness

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    TV drama praised by critics after final episode

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    R. Kelly gets 30 years in prison for sexual abuse

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    Ghislaine Maxwell sentenced to 20 years for sex trafficking

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    Nick Kyrgios to appear in court on charges of general assault

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    England vs India: Joe Root and Jonny Bairstow chase full record at Edgbaston

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    Wimbledon 2022: Simona Halep Maul Paula Badosa Center Court Returns To Reach Quarter

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    Wimbledon: Jamie Murray and Venus Williams out of mixed doubles

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    Wimbledon: Nick Kyrgios and Stefanos Tsitsipas both fined for conduct

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    Vera Pow: Republic of Ireland boss reveals rape and assault in Dutch football

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    Xi’s speech on 25th anniversary of HKSAR receives a positive response

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    After Sydney floods: ‘Everybody is traumatised’

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    Mumbai: Heavy rains brought life to a standstill in Indian city

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Foxconn to tie-up with Byton to make electric SUVs

Editorial Desk by Editorial Desk
January 5, 2021
in Asia, Business, China
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Foxconn to tie-up with Byton to  make electric SUVs

FILE PHOTO: Foxconn Chairman Liu Young-way speaks to the media reporters after an investor conference at the company's office building in Taipei, Taiwan November 12, 2020. REUTERS/Ann Wang

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BEIJING (CHINA) – The Nanjing Economic and Technological Development Zone along with Apple assembler Foxconn have agreed to start building electric sport-utility vehicles for cash-strapped Chinese startup Byton in 2022, Foxconn said in a statement on Monday.

Young Liu, chairman of Foxconn, said that the partnership with Byton will be a key part in Foxconn’s strategy in the electric vehicle (EV) industry.

Foxconn’s deal with Byton, its most solid foray into the auto sector, amplifies the threat to the established automobile indsutry that technology companies such as Apple and other non-traditional players could use contract assemblers as a shortcut to competing in the vehicle market.

By lowering manufacturing and the associated capital costs as a barrier to entry, contract assemblers could enable technology companies to focus on software and digital connectivity features that will define automotive competition in the coming years.

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 was launched in September 2017 by Future Mobility Corp, is backed by state-owned automaker FAW Group and battery supplier Contemporary Amperex Technology Co Ltd, was building a car factory in the eastern city of Nanjing before it suspended production from July to conduct a reorganisation of the firm.

Tags: AutomobileFoxconn
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