Las Vegas, January 5 2020 – Today, BYTON and Marubeni Corporation announced a strategic partnership. Marubeni will become a partner in BYTON’s Series C financing. The two companies will also explore opportunities for further cooperation in a range of fields such as mobility services, energy solutions and overseas production and distribution.
Dr. Daniel Kirchert, CEO of BYTON, said: “Based on our shared vision for smart cars and future mobility, we are pleased to have reached a strategic partnership with Marubeni Corporation. As a world-leading conglomerate, Marubeni Corporation has significant experience and resources in a variety of fields such as renewable energy and automobile sales. We will jointly explore the international market and provide users with future-oriented smart electric vehicles and mobility services.”
Kazuhiro Kondo, General Manager, Automotive Department, Marubeni Corporation said: “Under the current enormous change of automotive industry, this investment and partnership with BYTON is an essential part of our strategies in automotive business. We are very excited at creating a new mobility world with BYTON’s state-of-the-art technologies.”
BYTON’s Series C financing has now entered the final stage, with investors including the FAW Group and the Nanjing Municipal Government’s industrial investment fund. BYTON has concurrently been actively sourcing overseas capital. This cooperation with Marubeni is the second time BYTON has brought in an overseas strategic investor, after signing an agreement in September 2019 with South Korean auto parts maker Myoung Shin Co.
Recently, BYTON’s intelligent manufacturing base has also entered trial production, actively positioning for mass production. BYTON expects to start series production of its first model, the M-Byte*, in 2020 and deliver it to the Chinese market before launching it in Europe and North America in 2021.
*M-Byte is not yet available for sale. Specifications are preliminary and may change without notice. The content herein is provided for informational purposes only.
Marubeni is a major Japanese integrated trading and investment business conglomerate that handles products and provides services in a broad range of business activities across wide-ranging fields, including lifestyle, ICT & real estate business, forest products, food, agriculture business, chemicals, power business, energy, metals & mineral resources, plant, aerospace & ship, finance & leasing business, construction, auto & industrial machinery, and next generation business development.
Phone: +49 151 11 42 67 11
Phone: +49 151 11 42 66 69
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BYTON develops and builds intelligent premium electric cars for the automotive future, in which mobility is increasingly becoming a digitally networked experience.
BYTON's core team consists of leading experts from the automotive, technology and digital industries. With its central production and development facility in Nanjing, China, its design development center in Munich and its technology development center in Silicon Valley, BYTON is internationally positioned and operates globally.
The series version of the premium electric SUV BYTON M-Byte celebrated its premiere at the IAA Frankfurt in 2019. Pre-series production of the BYTON M-Byte started in the fall of 2019.
Further Information: BYTON Newsroom
Pictures: BYTON Flickr