Chinese Automaker FAW to Invest in EV Startup

(Adds background) By Norihiko Shirouzu BEIJING, May 15 (Reuters) - Chinese state-owned carmaker FAW Group has agreed to invest around $260 million in China-backed electric car start-up Byton as part of an ongoing series-B funding round, two people with knowledge of the matter told Reuters on Tuesday. The deal was signed over the weekend in Nanjing where Byton is building its headquarters and production facilities as well as a technology centre, they said. Byton is looking to raise a total ...

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