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BYTON closes $500M Series B

BYTON (earlier post) raised $500 million in its Series-B fundraising round, attracting major investors including 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.

BYTON also officially opened its global headquarters in Nanjing, China, forming a global operation centered in Nanjing, with an R&D center in Silicon Valley and a design center in Munich, Germany. In addition, the construction of BYTON’s smart manufacturing base in Nanjing is proceeding steadily. The company’s first batch of prototype models is set to roll out in April 2019 for testing, with the pilot production program starting in the first half of 2019, and Q4 as the target timing for the first mass production model to be launched into market.

As a world leader in smart mobility, we aim to build BYTON into a global premium brand with China Root, Global Reach as the core of our development strategy. By combining our expertise in R&D and traditional car-making with innovative Internet technologies, we aspire to pioneer a smart mobility revolution.

—Dr. Carsten Breitfeld, CEO and co-founder, BYTON

Nanjing, China has evolved to become a regional center of excellence for the development of smart manufacturing, with BYTON’s global headquarters introducing top-line international and domestic suppliers and partners to Nanjing. BYTON’s strategy to optimize its global supply chain will also reinforce Nanjing’s development as an eco-friendly, smart and high-end whole-automobile industry chain.

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