Chinese electric car startup Byton raises $500 million

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Byton, a Chinese electric car startup, has secured a $500 million Series B funding round to fuel the development of smart, connected cars. Investors include FAW Group, Tus-Holdings and CATL. Byton also announced the opening of a new HQ in Nanjing, China. This is on top of Byton’s research and development center in Santa Clara, Calif.

“By combining our expertise in R&D and traditional car-making with innovative Internet technologies, we aspire to pioneer a smart mobility revolution,” Byton CEO and co-founder

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