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Emergence of an Apple-branded car plus new credible electric car brands mainly from China are just part of the changes motor retail may face this decade, according to ICDP managing director Steve Young.
In his latest blog he has noted that in Europe we only see the tip of the iceberg as Chinese brands leverage the relative simplicity of battery electric vehicle architecture to launch viable products within three years of a brand s birth, and although some fail others such as Aiways, Byton and Nio are making good progress.
Young will present a Dealer Sustainability keynote seminar at Automotive Management Live Virtual next week, where he will share his thought-provoking insights into likely changes ahead for carmakers national sales companies and franchised dealer networks.
El SUV eléctrico chino Byton M-Byte vuelve a respirar gracias al fabricante del iPhone motorpasion.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from motorpasion.com Daily Mail and Mail on Sunday newspapers.
Foxconn reached an agreement with the Chinese electric automaker Byton
Foxconn plans to invest around $200 million in Byton as it attempts to further diversify its business
Shares of Foxconn are up over 4% this week, however, buyers failed to sustain today’s gains
Shares of Foxconn (T: 2354) are up over 4% this week after one of the key iPhone suppliers reached an agreement with the Chinese electric automaker Byton to take part in the manufacturing of its first vehicles.
Fundamental analysis: EV market opportunity
The deal comes as the Taiwan-based electronics company is looking to expand its operations beyond just manufacturing tech products. According to media reports, Foxconn plans to invest around $200 million in Byton as it attempts to further diversify its business and reduce its reliance on Apple.
2020 is finally coming to an end and it’s a year many of us would like to forget. The automotive sector may have been hit hard by dealerships closing, cancelled launches and a host of other unforeseen issues due to you-know-what - but there were plenty of headlines to keep us entertained in the meantime.
There was the announcement that the ban on sales of new petrol and diesel cars would jump from 2040 to 2030, which sent shockwaves through the automotive industry. Mitsubishi’s plan to exit Europe was another surprise, while the ongoing furore around the impact of coronavirus and Brexit on the industry gripped us all.