Beijing, China, April 20, 2018 – Right before the start of the 2018 Beijing Motor Show, the intelligent electric vehicle manufacturer, BYTON, and the Chinese automotive manufacturing company, FAW (First Automotive Works), signed a strategic cooperation investment framework agreement. FAW will join the B-round fundraising of BYTON as a strategic investor. In future, both sides will cooperate further on product research and development, manufacturing, sales, and services.
As a Chinese company with profound heritage, FAW has unparalleled resources and experience in product research and development, manufacturing, sales, and supply chain management. The cooperation with FAW will also provide strong support for the delivery of BYTON products.
The partnership between BYTON and FAW is BYTON’s latest milestone in its development, paving the way for realizing the two company's shared strategic vision on smart NEV industry development.