BYTON Raises $500 Million, Provides Us With Glimpse Of Production Line

JUN 12 2018 BY TOM MOLOUGHNEY 18

Just a day before BYTON will introduce their 2nd concept vehicle, a sedan at CES Asia, the upstart Chinese automaker announced they’ve completed their Series-B funding round, raising $500 million dollars.

The announcement came last night at the grand opening of BYTON’s global headquarters in Nanjing, China. Until recently, the majority of BYTON’s vehicle engineering and planning has been split between their offices in Munich, Germany and Santa Clara, California.

There were a couple of BYTON’s concept SUVs in the basement of their new global headquarters.

“The success of this funding round highlights how diversified strategic investors will further expand BYTON’s circle of friends and broaden our development opportunities,” said Dr. Daniel Kirchert, president and co-founder, BYTON. “BYTON is establishing a new benchmark for auto start-ups with four essential ‘must haves’, namely Technology, Product, Capital and Factory.”

InsideEVs was invited to tour BYTON’s new global HQ, as well as their manufacturing plant in Nanjing, which is still under construction. We found a bustling work environment, with four floors of office space, and hundreds of employees already there and working.

BYTON’s global HQ was in full operating mode when InsideEVs visited the facility.

The nearby manufacturing plant is still under construction, with only one of the many buildings on the property completed. That building is currently serving as an assembly validation site, where they are assembling Alpha and Beta cars. They recently built three production versions of their SUV, which are being sent for crash testing later this week. These cars were under cover as to hide the appearance of the production version. We were told however, that the production version retains about 90% of the concept car’s appearance.

BYTON’s manufacturing plant in Nanjing is still under construction, but already has the capacity to assemble cars for validation.

Later today BYTON will reveal their concept sedan, which is set to follow the SUV by about two years. BYTON then plans to release an MPV two years after the sedan, all sharing the same platform, and even some interior parts. InsideEVs will be at the Concept Sedan’s reveal, which takes place at Asia CES.

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18 Comments on "BYTON Raises $500 Million, Provides Us With Glimpse Of Production Line"

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Jake Brake

This looks exactly like a NIO copy cat.

Threader

Not sure why they are bothering with a sedan. Either go CUV or build a hatchback for other markets out of the USA.

windbourne

hopefully, they will not be in USA.

rey

The Chinese Bevs are coming, and US legacy auto are going to be caught with ICE suvs that nobody want

Mark.ca

The US manufacturers will lobby hard when the time comes to have fat tariffs stamped on all these Chinese cars. That’s plan A.

Benz

When will they start production and deliveries in China?

Tom Moloughney

Deliveries in China will begin in Q4 2019, and follow in the US a couple months later. I caught a glimpse of a production schedule that said they start making customer cars on early October of next year.

windbourne

hopefully, we start charging the same tariffs/VATs on chinese made cars that they charge for imports into there.

Benz

That means that they will ramp up production in 2020 (I think).

Brandon

Exactly my question. Are these vehicles planned to be available in Europe and the U.S.?

ffbj

It’s cool they let you guys poke around, Something to keep an eye on.
Of course the probability they will come to the U.S. is not high.

Dave

Why not? they will have a great advantage here, somewhere around $7500 per car at first…