Startup BYTON said to register new tech company after suspending China operations

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Startup BYTON said to register new tech company after suspending China operations Chinese EV startup BYTON has applied for the registration of a new technology company dubbed “Shengteng”, which is likely to snag an operating license at the end of August, according to a local media outlet. The automaker attempts to raise 2 billion yuan ($289,038,220) to speed up the volume production of the M-Byte, the startup's first production model, according to the local media source. FAW Group and other shareholders are proactively pushing ahead with the new round of fundraising. Responding to a request from local media outlets, BYTON...