Foxconn has suspended the collaboration with Byton . The agreement between the two companies had been announced in early January. The deal required Foxconn to make its expertise and technology available to support the construction of the Chinese brand's M-Byte electric SUV. According to reports from Nikkei Asia, the break in relations would be due to the worsening of Byton's financial situation.
The project would not be officially finished yet but it would only be a matter of time. Some Foxconn employees would still be at Byton but would be ready to leave. Furthermore, other people involved in the project would even already have; left Foxconn. The complex financial situation of the Chinese company would have caused many more; problems than Foxconn imagined.
To what & egrave; been reported, already & agrave; after less than 6 months, Foxconn would begin to focus on other projects. For the company, the damage from an economic point of view should be limited as it apparently had not yet purchased the equipment necessary for the production of the cars. However, its ambitious expansion plans in the automotive sector have not changed. In recent months we have seen several announcements of new collaborations in this sector. Furthermore, it is not; neither has the commitment to build electric vehicle factories in the United States and Thailand changed.
The biggest problems concern Byton. Without Foxconn's support, the Chinese manufacturer will have; many difficulties to bring its new electric SUV to market. Founded in 2017 by two former BMW executives, the automaker was once seen as one of the realities; more promising companies from China along with Xpeng Motors, Nio and Li Auto. It will be therefore it is very interesting to understand at this point which one will be; the future of Byton, if the Chinese brand succeeds; to go on and if you find & agrave; the way to launch his car.
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