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Byton closes $500 million Series-B financing round led by FAW Group, opens Nanjing global HQ

Dr. Daniel Kirchert NANJING – Byton concluded its Series-B financing round on June 11, attracting a total of $500 million from multiple investors led by FAW Group, as well as Tus-Holdings, Chinese battery manufacturer CATL, among others. The Chinese smart EV startup also officially opened its global headquarters in Nanjing, Jiangsu Province

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Byton sticking with Q4 2019 SOP, FAW cooperation a “backup plan”

BEIJING – As Byton prepares for the global debut of its second model – a luxury sedan concept capable of L4 autonomous driving – coming up on June 12 at the Byton Night prior to the start of this year’s CES Asia in Shanghai, the primary focus remains to be

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Qingdao facility part of three new factories Volkswagen to open in China to strengthen SUV offensive and e-mobility

QINGDAO, Shandong – FAW-Volkswagen opened its new production facility in Qingdao, Shandong Province on May 28 and began production of the all new Bora based on Volkswagen’s MQB platform. The Qingdao plant is one of the three new facilities the joint venture will have opened before the end of Q3 2018,

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China automobile sales up 11.5 percent in April 2018

BEIJING – China’s automobile sales in April reached 2.32 million units, up 11.5 percent from the same period of the previous year, according to data released by China Association of Automobile Manufacturers (CAAM) on May 11. Passenger vehicle sales reached 1.91 million units, up 11.2 percent, while commercial vehicle sales

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Ford’s all new focus: getting fit and healthy as China 2025 Plan takes off

CHONGQING – Peter Fleet, Ford’s group vice president and president of Asia Pacific, admitted that sales of the U.S. automaker in China will continue to be down for the remainder of this year as it focuses on efforts to streamline its sales network and begins a new round of product

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Gone in 29 hours: 2,000 G3 smart EVs with auto parking feature ordered in just over a day after pricing announced

BEIJING – Chinese smart EV startup Xpeng Motors officially started online reservation of its first electric SUV G3 on April 26 at the Global Mobile Internet Conference (GMIC) in Beijing and the first batch of 2,000 limited editions of the G3 were ordered in 29 hours. Deliveries are expected to

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