Chinese EV Maker Seeks $400m in New Investments
Chinese EV Maker Seeks $400m in New Investments

Chinese EV Maker Seeks $400m in New Investments

Chinese EV Maker Seeks $400m in New Investments

Byton, the Chinese electric-car startup is seeking about $400 million in a new round of funding, people with knowledge of the matter said. The Nanjing-based company, which showcased a concept car at the Consumer Electronics Show in Las Vegas this month, has been reaching out to potential investors to gauge their interest, according to the people, who asked not to be identified because the information is private, Bloomberg reported.  Byton, formerly known as Future Mobility Corp., this month unveiled an electric SUV that uses facial recognition to unlock doors, Amazon’s Alexa to entertain and a 49-inch screen across the dashboard. Its first model will be available for sale next year starting at $45,000, compared with a $35,000 base price for Tesla’s Model 3. No final agreements have been reached, and details of the fundraising plan could change, the people said. A representative for Byton declined to comment. Byton received $200 million from a Suning Holdings Group Co. fund and some state-owned firms in Jiangsu province.


Short URL : https://goo.gl/ALvYqe
  1. https://goo.gl/ZQWvqH
  • https://goo.gl/g35rkp
  • https://goo.gl/TyJkGD
  • https://goo.gl/HFkqZm
  • https://goo.gl/bY4UFG

You can also read ...

Experts believe the import ban would lead to a further rise in smuggling and market disruption.
The government has banned the import of 1,339 commodities...
CBI, Capital Market Agree to Control  Gold Coin Bull Run
As gold coin prices are skyrocketing, the Central Bank of Iran...
$1.5b in Tax Evasion Identified From Bank Accounts
About 63 trillion rials ($1.49 billion) worth of unpaid tax...
Mohammad Javad Zarif (4th L) addressed representatives of Iran Chamber of Commerce, Industries, Mines and Agriculture on June 24. (Photo: Bahareh Taghiabadi )
Foreign Minister Mohammad Javad Zarif assured the business...
Iran Explores Int’l Space Collaborations at UN Meeting
Officials with Iran Space Agency participated in the two-day...
Top US Court Restricts Police on Cellphone Location Data
The US Supreme Court on Friday imposed limits on the ability...
Beverage Can Imports at  $21 Million
More than 2,890 tons of beverage cans worth more than $21...
Xiaomi’s Hong Kong IPO
Xiaomi, one of the world’s leading smartphone makers, is...

Add new comment

Read our comment policy before posting your viewpoints