China's answer to Tesla: A $45,000 smart SUV on display at CES Las Vegas

China-based startup Byton will complete its Nanjing factory in late 2018 and start production a year later

A China-based startup established by former BMW AG executives is among the latest to take a swing at the growing market for electric and autonomous vehicles, competing against giants such as Nissan Motor Co. and General Motors Co.

Byton, formerly known as Future Mobility Corp., unveiled a concept SUV at CES in Las Vegas on Sunday, and said its first mass production model will be available for sale next year starting at $45,000. The company will complete its Nanjing factory in late 2018 and start production a year later, Chief Operating Officer and co-founder Daniel Kirchert told reporters at the