Chinese EV brand IM Motors announced on August 1 its signing of a Round-A Equity Financing Agreement, bringing the company's overall valuation to nearly 30 billion yuan ($4.4 billion).
On July 6, the solid state battery joint laboratory was established by SAIC, a car company, and QingTao Energy, a developer of solid-state batteries.
Chinese state-owned carmaker SAIC Motor plans to subscribe an additional capital contribution of 7.5 billion yuan to the Qingdao SAIC Innovation and Upgrading Industry Equity Investment Fund Partnership (L.P.).
IM Motors, a joint venture funded by SAIC, Alibaba and Zhangjiang Hi-Tech, officially launched the L7 Dynamic and L7 Pro models on April 17, priced at 368,800 yuan and 408,800 yuan ($57,866 - $64,143) respectively.
IM Motors, a premium electric vehicle brand founded jointly by China's largest car company SAIC and e-commerce giant Alibaba, on Tuesday began locking in orders for its first model, the L7 Pro.
On Tuesday, the China Passenger Car Association released its data for the domestic automobile market in February.
IM Motors, a joint venture backed by Alibaba Group and SAIC Motor, has now begun the mass production of its first electric vehicles and will put them on sale later this month.
On Wednesday, lidar firm Hesai Technology and Youdao Zhitu, a commercial vehicle intelligent driving company owned by SAIC Motor, announced a new strategic cooperation agreement.
SAIC Mobility, a unit of top Chinese automaker SAIC Motor, in conjunction with autonomous driving startup Momenta, have begun offering autonomous robotaxi test rides to the public in a Shanghai district as part of a trial.
According to data released by the China Passenger Car Association (CPCA) on Monday, the U.S. EV maker Tesla's wholesale volume in China in the month of October (including exports) was 54,391 units.
On Friday, SAIC released its October production and sales report at the Shanghai Stock Exchange. In 2021, SAIC has sold 555,900 NEVs, representing a cumulative year-on-year increase of 187.57%.
On Wednesday, Lei Jun, Co-Founder and CEO of Xiaomi, announced via his Weibo account that Xiaomi Auto Co. Ltd has been officially established, with registered capital of 10 billion yuan ($1.5 billion).
The race to become the leader of clean energy vehicles in the world’s largest auto market is on, with more and more tie-ups established between China’s tech giants and traditional automakers.
SAIC Motor Corp. Ltd reached an agreement to buy 28.92% of the share of car rental service provider Car Inc at the price of HK$ 1.9 billion.
As SAIC-GM-Wuling Joint Venture introduces a new van to support small businesses, both of its shares and sales increased.