BYTON to come back by a new company named Shengteng Auto in China

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How will the follow-up development of Byton Auto, which has been exposed to “spent 8.4 billion yuan without making a mass-produced car”? Recently there are new answers. On September 9th, Nanjing Shengteng Automobile Technology Co., Ltd. was registered and established (hereinafter referred to as “Shengteng Auto”). This company has the same name as the previously rumored, and both are “Shengteng”. Duan Lianxiang, the legal representative of the new company, is also the vice president of Byton who took in charge of R&D.


BYTON to come back by a new company named Shengteng Auto in China

According to the company’s investigation data, Shengteng Auto has a registered capital of 1.5 billion yuan, and its industry is automobile manufacturing. The company is located in Nanjing Economic and Technological Development Zone. Its business scope includes research and development of auto parts, sales of new energy vehicles, and new energy. Automobile production test equipment sales, etc.

Inquiring about the situation of shareholders, we can see that the shareholders of Shengteng Auto also have many familiar figures. Among them, Nanjing Xingzhi Technology Industry Development Co., Ltd. participated in the investment of Byton Auto, and FAW Equity Investment (Tianjin) Co., Ltd. also subscribed to capital of 350 million yuan, holding 23.3333% of the shares. It can be seen that FAW did not “give up” Byton. It is actively promoting the follow-up development of Byton; Duan Lianxiang subscribed 100 million yuan and holds 6.6677% of the shares.

BYTON to come back by a new company named Shengteng Auto in China

It is reported that after the suspension of business operations in Mainland China on July 1, 2020, Byton has only retained a small number of positions to maintain the basic functions of the company. However, the number of employees on duty in the company has increased recently, or it is further preparing for the company to restart and follow-up product landing plan.