Apple's Supplier Will Also Enter The Automobile Industry

Apple's Supplier Will Also Enter The Automobile Industry Apple's supplier will also enter the automobile industry. Foxconn Technology Group is holding investment negotiations with Byton. Foxconn Technology Group, the supplier company of the US technology giant Apple, plans to enter the electric car industry. The company, one of Apple's most important suppliers, aims enter the electric vehicle industry like Apple, but will do so independently of Apple. In this context, Foxconn is holding negotiations with Chinese electric car startup Byton to invest. Foxconn aims to invest $ 200 million in mass production of Byton's M-Byte model by the first quarter of 2022, Bloomberg News reports. Sources close to the subject indicated that an announcement regarding the deal could be made on Monday. In the event that such an agreement is made, Byton will have the necessary resources to produce the M-Byte model, which it announced a few years ago but had difficulty in production. Taiwan-based Foxconn also said to be in talks with other Chinese electric car manufacturers. Recently, technology companies have started to be interested in the electric vehicle industry. Apple, one of the important technology companies, also announced that it would enter the electric vehicle industry.     Source: Bloomberg HT