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Apple Supplier Foxconn in Talks to Invest in Struggling Electric Vehicle Startup

By Shai Oster
· · Source: Bloomberg

Apple supplier Foxconn is in talks to invest $200 million in struggling Chinese electric vehicle maker Byton, which furloughed staff earlier this year. Bloomberg reported that the Taiwanese company is seeking to diversify if revenue away from reliance on Apple’s orders and is looking more broadly at the EV sector. Apple itself is also reportedly looking at manufacturing its own vehicle by...

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Photos by Bloomberg; Shutterstock. Illustration by Mike Sullivan
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