China officially has five electric vehicle companies valued at US$1 billion or more, as China Money Network has learned that Byton, an EV start-up rooted in China, is currently seeking a new financing round at a minimum valuation of US$1.2 billion. Byton, previously known as Future Mobility Corp, last raised around US$200 million at a valuation of US$750 million in August 2017. It is now in advanced talks with a Chinese central government investment institution regarding a round that could …

Exclusive: Electric Vehicle Firm Byton To Raise New Round From Chinese State Investor At $1.2B Valuation appeared first on China Money Network.