[YesAuto News] On July 2, we learned from official channels that the new car company Byton Auto has signed a strategic cooperation framework agreement with China FAW Group Co., Ltd. in Nanjing. The two parties will focus on platform technology, investment in shares, and parts. A series of cooperation in procurement and other aspects.
Wang Guoqiang, member of the Standing Committee of the Party Committee and Deputy General Manager of China FAW Group Co., Ltd., said: “The automotive industry is undergoing a very obvious transformation trend towards electrification, interconnection, intelligence, and sharing. This strategic cooperation with Byton is precisely China’s FAW will be one of the links in the future.”
Dr. Bi Fukang, CEO and co-founder of Byton, believes that the strategic partnership with FAW will provide strong support for Byton to achieve its mass production targets as scheduled.
In June of this year, Byton Motors announced the completion of a Series B financing of 500 million US dollars. The investors are FAW Group, TusHoldings, Ningde Times, and Jiangsu One Belt One Road Investment Fund. As strategic investors, in addition to capital investment, FAW Group and Byton will also cooperate in the areas of product development, production, sales and services, and jointly deploy in the field of smart new energy vehicles.
At present, Byton Motors has exhibited two concept cars, BYTON M-Byte Concept and BYTON K-Byte Concept, which are SUV and sedan respectively. Among them, the SUV model will be pre-production in the first half of 2019 and will be the fourth in 2019. Officially listed quarterly. At present, the trial production workshop of Byton Motor's Nanjing plant is officially opened, and it is expected that hundreds of engineering trial production prototypes will be handed over by the end of this year.