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.
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.