FAW Group led a $500m series B funding round in Byton.

FAW Group, a Chinese state-owned automobile manufacturer, led a $500m series B funding round in Byton, a Chinese-German all-electric vehicle automotive brand. “By combining our expertise in R&D and traditional car-making with innovative Internet technologies, we aspire to pioneer a smart mobility revolution,” Carsten Breitfeld, Byton CEO and co-founder.