Chinese EV startup Byton seeks to raise $500m at a valuation of $4b

Chinese EV startup Byton seeks to raise $500m at a valuation of $4b

FILE PHOTO: An employee works on an assembly line producing electronic cars at a factory of Beijing Electric Vehicle, funded by BAIC Group, in Beijing, China, January 18, 2016. REUTERS/Kim Kyung-Hoon/File Photo

Chinese-funded electric vehicle manufacturer Byton is seeking to raise at least $500 million to finance growth, valuing the nearly three-year-old company at more than $4 billion, two people familiar with the matter told Reuters.

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