BYTON Might Be The Next Chinese EV IPO

Another IPO is coming?

Carsten Breitfeld, CEO and co-founder of BYTON, told Germany’s Automobilwoche that the company could launch IPO after one more round of fundraising from private investors.

“With the capital-intensive nature of business and our expansion, the topic of listing on the stock market will become relevant,”

The IPO – we assume around 2020 – would be another high-profile Chinese venture after CATL battery manufacturer and automaker NIO.

BYTON first probably will need to reach the production stage, just like NIO with the ES8, which should happen in 2019.

Source: Reuters

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