As investors, Suning and Fullshare revealed that cooperation with BYTON will not only stay in the capital level. They will use their own high-end manufacturing, clean energy, intelligent retail and other advantages to help BYTON develop rapidly in the field of smart electric vehicle.
BYTON is an auto brand under FMC (Future Mobility Corporation). In early August, FMC received $ 200 million in A round of financing, which was jointly invested by several industrial funds from enterprises in Jiangsu, including Suning and Fullshare.
October 24, Daniel Kirchert, together with BYTON’s high executive team, visited Suning. The two sides reached a consensus on further cooperation in the future.
With Suning’s strong channel advantage and brand influence, BYTON has another favorable channel for marketing. For Suning, the cooperation with BYTON means that Suning officially enters the field of Internet smart vehicle.
In July this year, Suning opened China’s first auto supermarket in Xinjiekou, Nanjing. Setting up a car supermarket and creating online and offline one-stop auto consumption platform are Suning’s first step to step into the auto industry. According to Liu Donghao, Chairman of Suning.cn, stepping into auto industry is an essential part of Suning’ layout. And the cooperation with BYTON shows its ambition in the supply chain of auto industry.
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