The Tencent-backed electric vehicle developer, formerly known as Future Mobility, is seeking between $300m and $400m at a $1.2bn valuation.
Byton, a China-based electric car developer backed by internet company Tencent, plans to raise $300m to $400m in funding at a valuation of at least $1.2bn, China Money Network reported today.
The company, which was formerly known as Future Mobility, is said to be in talks with an unnamed Chinese central government institution for the cash injection.
Founded in 2016, Byton is developing a range of electric vehicles including a sports utility vehicle with autonomous driving capability that it introduced…
