Hon Hai Precision Industry Co., Ltd. (TSEC:2317) is in talks to invest in BYTON Limited in a deal that could mark a large bet by the iPhone assembler on the car-making business, according to people familiar with the matter. Foxconn, whose main listed arm is Hon Hai Precision Industry, plans to invest around USD 200 million and the companies aim to start mass production of the Byton M-Byte by the first quarter of 2022, one of the people said, declining to be named discussing information that isn’t yet public. An announcement on the pact could come as early as January 4, 2021, the people said. Such a deal, if it eventuates, would represent a lifeline for Byton, which is struggling to produce its first vehicle having unveiled its M-Byte concept car several years ago. Foxconn, based in Taiwan, is also talking to other Chinese electric-car makers on potential collaborations, another person said. Foxconn representatives didn’t immediately respond to requests for comment. Byton declined to comment.