An automotive startup based in Nanjing, Byton, which has developed an electric SUV, is aiming to raise fresh funding.
The Chinese startup is aiming to raise financing worth $400 million and has been exploring possible investors without any official talks or plans, according to an anonymous source, Deal Street Asia reported.
The electric car startup Byton is led by former executives in the BMW company and was formerly known as Future Mobility Corp. Chief Executive Officer of Byton, Carsten Breitfeld, formerly a leading engineer at BMW, was employed by the German car company for approximately 20 years.
Byton recently disclosed its electric SUV which features Alexa by Amazon, a 49-inch dash screen and facial recognition security. The car was revealed at The International Consumer Electronics Show (CES) 2018.
CES, a trade show which provides a space for new consumer technologies, was held in Las Vegas, Nevada this year. The company’s electric SUV will go on sale next year with a base price of $45,000.
The Chinese startups Chief Operating Officer Daniel Kirchert worked as head of marketing for BMW’s Chinese venture.
Kirchert, who also worked for Nissan, said in August that Byton has received investments from Suning Holdings Group Co. fund for $200 million as well as state-owned firms in Jiangsu. China Harmony New Energy Auto Holding Ltd. is a previous investor in the startup.
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