Byton Loses Co-Founder, On Track To Start Production of The M-Byte in Q4 2019

Despite the loss of its former CEO, the company is aiming for a summer release of the M-Byte.

Chinese electric car start-up Byton has announced quite some developments beginning with the loss of its co-founder and former CEO Dr. Carsten Breitfeld. The executive, said the firm, is leaving to "start a new adventure within the start-up industry."

RELATED: BYTON CHALLENGES TESLA'S EV DOMINANCE WITH THE M-BYTE

Closing C-round

Meanwhile, the start-up revealed its plans to close its ongoing C-round of $500 million, according to this report from January. It is also well on its way to start series production of the all-electric SUV M-Byte in Q4 2019. 

“Thanks to our founding team and all employees we’re well on track and looking forward to delivering the M-Byte this year to customers in China, followed by the US and Europe in 2020. Carsten helped build a strong BYTON brand and bring in the right people to take our start-up to the next level. Now we are focusing on our main goal to achieve the on-time-start-of-production of the first BYTON series production model in 2019 with our strong team and partners," said Byton Co-founder and CEO Dr. Daniel Kirchert.

Cold Environment Test completed

The company revealed they would announce the new appointment for CTO soon. More recently, the firm completed its Cold Environment Test (CET) of its M-Byte prototypes in Inner Mongolia in northern China.

The company has also revealed that Byton’s plant in Nanjing, China, will be completed within the next three months. The firm has referred to the plant as consisting of "intelligent production facilities, which are built around cutting-edge Industry 4.0 standards." 

The machines come from such partners as AIDA Engineering from Japan and KUKA and DÜRR from Germany.  The firm has ambitious plans to deliver the first production cars in China at the end of 2019, in the USA in the second half of 2020 and in Europe at the end of 2020.

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