Foxconn is stepping up its push in to electric vehicles with a tie-up with Chinese EV maker Byton, as the world’s largest electronics contract maker seeks to replicate its traditional tech dominance in a new market it hopes will bolster squeezed margins.
The leading assembler of Apple’s iPhone will help Byton ramp up mass production of its first EV model and bring it to market within a year under a strategic framework agreement, according to a statement from Hon Hai, Foxconn’s Taipei-listed parent.
“This co-operation deal once again proves that Hon Hai Technology Group’s advanced manufacturing in the information and communication industry and its valuable experience in supply chain management can be applied to the EV industry,” the company said.