Info
Info

EV start-up BYTON receives $500 million through Series B Fundraising

News
BYTON 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.
Info

BYTON 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 also officially opened its global headquarters in Nanjing, China, forming a global operation centered in Nanjing, with an R&D centre in Silicon Valley and a design centre 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," said Dr. Carsten Breitfeld, CEO and co-founder, BYTON. "By combining our expertise in R&D and traditional car-making with innovative Internet technologies, we aspire to pioneer a smart mobility revolution."

Nanjing, China has evolved to become a regional centre 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 optimise its global supply chain will also reinforce Nanjing's development as an eco-friendly, smart and high-end whole-automobile industry chain.

"The opening of our global headquarters in Nanjing is just the latest in the comprehensive advancement of BYTON's R&D, production, and operations," added Dr. Kirchert. "At the same time, with further acceleration in developing the BYTON value chain for smart mobility, we will contribute to the formation of a smart industry cluster in Nanjing."


The Latest News, Brought To You By
EV start-up BYTON receives $500 million through Series B Fundraising
Modified on Tuesday 12th June 2018
Find all articles related to:
EV start-up BYTON receives $500 million through Series B Fundraising
TaaS Technology Magazine


Tuesday 4th - Wednesday 5th June 2019 @ The National Motorcycle Museum

Transportation-as-a-Service (TaaS) Technology will evolve in 2019 from the inaugural conference which took place in 2018, into two co-located conferences plus a shared exhibition. As per 2018 TaaS Technology will cover Connected and Autonomous Vehicles (CAVs) and Future Mobility. The new co-located conference will look at 'Energising Future Mobility' and will focus on the key topics surrounding Electric Vehicles (EVs), Battery/Energy Technology and Infrastructure.

Places will be limited, so register your place today: https://taas.technology
Info
Volkswagen To Build New Generation Of Its EVs At Its Chattanooga Plant In US
MPSC Approves Michigan’s First EV Infrastructure Programme
Sumitomo Electric And EV Safe Charge Team Up To Create App Providing Comprehensive EV Road Trip Experience
Valeo And Mobileye To Jointly Develop New Safety Standard For Autonomous Vehicles
Bosch Showcases Its Autonomous All Electric Shuttle Concept
Nissan Tries To Carve Out A New Segment Of Vehicles With The IMs Concept
Iteris And Cisco Collaborate To Deliver Connected Roadway Solutions
Bridgestone Europe Acquires TomTom Telematics To Enhance Its Connected Fleet Solutions
AFC Energy Develops World’s First Hydrogen EV Charger
Nvidia’s DRIVE Software 8.0 Enables Surround Perception, AR For Autonomous Vehicles
Keysight Technologies Joins CharIN To Accelerate The Combined Charging System For EVs
KDDI And AT&T To Provide 4G LTE Connectivity For Toyota And Lexus Vehicles In The US
Hyundai Mobis And KT Collaborate To Test Connected Vehicle Technologies Based On 5G
Cadillac To Lead GM’s EV Initiatives, Cruise To Commercialise Autonomous Vehicles
Sprint Curiosity IoT To Implement 5G In Peachtree Corners, Ga
LG And Microsoft Partner To Accelerate Autonomous Vehicle Development
DeepBlue Debuts “Smart Panda Bus”, An AI Based Autonomous Vehicle
Infiniti Showcases Its Fully Electric Concept SUV, The QX Inspiration
Human Horizons Demonstrates Urban Autonomous Driving In Yancheng, China
Allego And Gireve Sign New Agreement On Interoperability
Alto, An On-demand Rides Startup Launches In Dallas
GoTo Mobility Integrates With Moovit In Israel
Volvo Group Venture Capital Invests In Momentum Dynamics, A Wireless EV Charging Company
Car2go Launches Its Services In Paris
Info
Info
×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
×
Logo
×
Register - Step 1

You may choose to subscribe to the TaaS Magazine, the TaaS Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in:
 
X
Info
X
Info