Chinese EV maker BYD seeks to raise $1.8b to pare debt, invest in R&D

Chinese EV maker BYD seeks to raise $1.8b to pare debt, invest in R&D

BYD, China's biggest carmaker by market valuation, is looking to list its chipmaking arm in Shenzhen. © Getty Images

Chinese electric vehicle company BYD Co is raising up to $1.8 billion in a capital raising launched on Friday, a term sheet seen by Reuters showed.