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  • Chinese-funded electric vehicle manufacturer Byton is seeking to raise at least $500 million to finance growth, valuing the nearly three-year-old company at more than $4 billion, two people familiar with the matter told Reuters. The latest round of fundraising comes as China's government promotes new energy vehicles (NEVs), a category comprising battery-powered and plug-in battery-petrol hybrid cars, to help reduce air pollution and support high technology development. Byton is keen to primarily attract foreign investors in its latest fundraising and the proceeds will be mainly used to finance the mass production of its first premium electric SUV vehicle - Byton M-Byte and research and development, one of the sources said on condition of anonymity as discussions are still private.
    EV Startup Byton Aims To Raise $500 Million To Fund Growth
  • Byton, a Silicon Valley based and Chinese backed automaker has finally started production of its first electric vehicle, the M-Byte SUV. The new SUV will be made in Byton's Nanjing plant in China in a brand new facility which will also serve as the brand's new headquarters. Byton is currently manufacturing the SUV for testing including those required to meet crash norms around the world. Byton will soon be showcasing this production ready version, which will hit the markets by next year.
    Byton Starts Manufacturing Its All-electric SUV