China’s electric vehicle (EV) startup unicorn Byton is targeting to raise $300-400 million from a Chinese government investment institution at a valuation of $1.2 billion, according to a China Money Network report.
The deal, which is said to be in an advanced phase of negotiation, would be the second financing received by the company in less than a year after it raised around $200 million at a $750-million valuation in August 2017.
