After a presentation during which the M-Byte electric SUV had displayed promising characteristics and equipment, the Byton brand encountered great difficulties in launching the production of the model in series in the face of the Covid-19 pandemic. A crisis that could force him to join Foxconn Technology Group.
Specializing in electronic components, Foxconn has been best known for designing parts for Apple iPhones for generations. Based in China, where Byton is also from, Foxconn could invest up to $ 200 million in the struggling startup to boost the SUV’s launch.
If the transaction is validated and the collaboration takes place, the objective will then be to start production of the M-Byte during the first quarter of 2022. The agreement could be formalized during the month of January but will be difficult before halfway through. months, but Byton’s European spokesperson confirmed that there are “Plans for cooperation between Byton and Foxconn. It was agreed that we would not talk about the sums invested so there will be no comment on this. “
Foxconn wants to broaden its reach in the market and to achieve this, it relies on greater independence from Apple, which today represents more than half of its parts produced. For his part, Byton had launched the pre-production of M-Byte in October 2019, before the crisis struck. By July, all operations had to be halted around the SUV, which is notable for its 48-inch screen in the cabin.