Reuters - Byton's electric vehicle project with FCC has been put on hold due to the Chinese startup's worsening financial situation, the Nikkei newspaper reported on Wednesday https: s.nikkei. com 2 YOxvxg, citing unidentified sources with knowledge of the matter.
The Byton Project is not yet officially ended, but it is very difficult to proceed at this point, one of the sources told Nikkei Asia.
Foxconn said in January that the Byton assembler and the Nanjing Economic and Technological Development Zone had agreed to start producing electric sport-utility vehicles for Apple in 2022.
A few Foxconn employees are still stationed at Byton's factory, another source told, but they are wrapping things up and preparing for the end when it becomes necessary. Some higher-level talent involving in the project left Foxconn, the report added.
According to the Nikkei, Foxconn's plans to build factories in the United States and Thailand to assemble entire vehicles in 2023 are intact.
Byton declined to comment, while Foxconn did not immediately respond to a request for comment.