Auto startup in $500m fundraising

Investment to be funnelled into Byton's flexible vehicle manufacturing platform

Thanks to a recent $500 million B round of fundraising, automobile startup Byton will accelerate its production, and research and development of China's first vehicle to feature an all-screen dashboard.

Two-year-old Byton announced on Monday that the fundraising was led by its strategic partner FAW Group Corp and TUS Holdings Co Ltd. Contemporary Amperex Technology Co Ltd and the Jiangsu Belt and Road Initiative Investment Fund were also among the major investors.