Byton drives $500m series B

Jun 11, 2018 •

Investors in the series B round included TUS Holdings, FAW and Contemporary Amperex Technology.

China-based smart car developer Byton closed a $500m series B round today that included automotive manufacturer FAW Group and battery producer Contemporary Amperex Technology.

TUS Holdings, the enterprise arm of Tsinghua University, also took part in the round alongside other, unnamed backers. FAW was previously reported to be supplying $260m to the round, though this was not confirmed in Byton’s release.

Founded in 2016 as Future Mobility, Byton is developing smart, electric vehicles that boast features such as a…

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