Months after raising $500m in an FAW and Contemporary Amperex-backed series B round, the electric car developer is seeking another $500m before it floats.
Byton, a China-based smart car developer backed by car dealer China Harmony New Energy Auto Holding and retail group Suning, is seeking at least $500m in funding, Reuters reported today.
The company is aiming for a valuation of more than $4bn and is particularly keen on attracting overseas investors, according to people familiar with the matter. Byton confirmed it was raising a series C round but did not reveal any additional information.
Founded in 2016 as Future Mobility, Byton is…
