Foxconn has signed a deal with Byton, a Chinese company that makes electric cars. Byton, Foxconn and Nanjing Development Zone signed an agreement on Monday to jointly produce Byton's M-Byte SUV in the first quarter of 2022.
Through the agreement, the Taiwanese company will allow Byton to use its own expertise in advanced manufacturing technology, activities management experience in the production of the first car, as well as the knowledge and resources acquired in this sector.
Foxconn unveiled a set of tools last year, according to CNBC. With this tool, car manufacturers will be able to design large parts for electric vehicles. The Taiwanese company will later produce these parts. In addition to car chassis, this tool also contains software.
Foxconn is already working to supply products to Tesla and several other carmakers.
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