Chinese electric car maker Byton nears to secure $500 mln in new funding

05/09/2019 6:49:00 AM (GMT)

Byton, a Chinese electric-car startup, is nearing to secure $500 million in its new financing round.

The latest round, expected to be conducted by automotive maker FAW Group Co. and joined by other investors, is expected to value Byton at over $2.5 billion.

Additionally, FAW Group is close to signing an agreement within weeks to make a $100 million investment in Byton.

More so, Byton is mulling a stock market listing after new financing and production begin.

Byton

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