For a new venture with little revenue, Foxconn’s nascent automotive business is off to a big start this year, inking partnerships to develop new electric cars with Chinese start-up Byton and Hong Kong-based automaker Geely to make electric vehicles. And in between came a headline related to Apple’s long-hyped and slow-developing EV initiative: a statement from South Korea’s Hyundai Motors about a joint venture expected to begin producing cars in 2024 that involved Apple, though the company later walked back the specific mention of Apple among its potential partners — Apple’s demands for secrecy from partners are well-known.
