iM Motors announced the completion of 8 billion yuan in Series B financing

Automotive Author: EqualOcean News, Sun Chang Mar 01, 2024 05:24 PM (GMT+8)

Today, iM Motors(iM), a high-end smart car brand owned by SAIC Motor, announced that it has received more than 8 billion yuan in Series B equity financing.

iM Motor

This round of investment was led by BOC Financial Asset Investment, with participation from ABC Investment, Lingang Group, etc., and technology companies such as Contemporary Amperex Technology(CATL), Momenta, and Qingtao Energy also participated. At the same time, SAIC Motor, ICBC Investment, and Bank of Communications Investment continued to make additional investments.

iM was established in December 2020. It is a new energy vehicle technology innovation company cooperated by SAIC Group, Zhangjiang Hi-Tech and Alibaba Group. It is committed to becoming "the implementer of travel changes in the intelligent era." In 2023, iM's LS6 model will become the number one sales volume among Chinese brand pure electric models and medium and large pure electric SUV models.

With its smart technology products and excellent user experience, iM has won the favor of users while exploring the high-end new energy market space. For example, iM's innovative future smart cabin design incorporates AI driving functions, using AI technology to solve travel problems and ensure driving safety. iM's IM AD advanced intelligent driving already has city-level driverless capabilities and covers highways nationwide. iM is undergoing localized adaptability training in Europe, gradually adapting to the local environment and driving habits.

In February this year, at the Geneva Motor Show, iM displayed its full range of four models to show the world the technological achievements and leading experience of China's smart electric vehicles. At the same time, iM announced that 2024 will be the first year for the iM brand to go overseas, to lead SAIC Group's global products into the high-end smart car market in major overseas markets.

This round of financing will be used for the development of a new generation of intelligent models, advanced intelligent driving technology, the research and development of future smart cabin technology, the expansion of market channels, and the development of overseas markets. It is reported that in 2024, iM's L7 and LS7 models will be launched in emerging markets such as Mexico, the Middle East, South America and Southeast Asia; in 2025, iM's LS6 and L6 models will enter the global market, providing overseas users with high-quality electric vehicle products. , services and experience to build a new pattern in the global new energy track.