Foxcon Partners With Byton To Compete Against Tesla

06 Jan 2021

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Foxcon Partners With Byton To Compete Against Tesla

The Apple’s supplier Foxconn and Chinese electric vehicle startup Byton decided to be partners of each other to defeat Tesla in the automotive sector. With this partnership, both companies aims to expand their contribution in the industry by providing their services to produce standard and valuable EVs.

According to reports Foxconn is currently debating with Byton and aims to make an investment of approximately $200 million to compete with Tesla. The main purpose of this collaboration is to produce Byton’s M-Byte crossover SUV by the first quarter of 2022. Till now the project is secret, but next week both companies are expected to announce the project publically.

The EV startup Byton has been in struggle to produce EVs but could not complete due to shortage of resources. Apple supplier’s investment will boost the company’s vision for the production of EVs accordingly.

The use of technology in cars especially in EVs becomes a necessary aspect in terms of safety and efficiency standards of the modern and advanced automotive markets. So the various tech companies including Apple, Sony, Zoox, Nuro, Waymo, NVIDIA, and many others are planning to invest in the automotive industry.

Tesla Foxcon Byton Byton defeat Tesla

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