12 Jun '18, 6pm

BYTON Announces $500 Million in Series-B Funding

Electric vehicle startup BYTON has concluded its successful Series-B fundraising round, attracting a total of $500 million from multiple major investors that include FAW Group, Tus-Holdings, CATL, and more. The funding round empowers BYTON with a strong financial position for continued progress in mass production, R&D and product development. “The success of this funding round highlights how diversified strategic investors will further expand BYTON’s circle of friends and broaden our development opportunities,” said Dr. Daniel Kirchert, president and co-founder, BYTON. “BYTON is establishing a new benchmark for auto start-ups with four essential ‘must haves’, namely Technology, Product, Capital and Factory.” BYTON on Monday also officially opened its global headquarters in Nanjing, China, forming a global operation centered in Nanjing, with an R&D center in Silicon Valley ...

Full article: https://electriccarsreport.com/2018/06/byton-announces-50...

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