Apple supplier Foxconn's electric vehicle project with Byton has been put on hold due to the Chinese startup's worsening financial situation, the Nikkei newspaper reported on Wednesday, citing unidentified sources with knowledge of the matter.
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Foxconn said in January that the Apple assembler and the Nanjing Economic and Technological Development Zone had agreed to start building electric sport-utility vehicles in 2022 for Byton.
A few Foxconn employees are still stationed at Byton's factory, another source said, but "they are wrapping things up and preparing for the end when it becomes necessary."
Some higher-level talent involved in the project has even left Foxconn, the report added.
