SAIC says its EV brand IM Motors secures $1.3bn in Series B funding

BEIJING: China’s SAIC Motor said on Wednesday its EV brand IM Motors has completed a Series B fundraising round, securing 9.4 billion yuan ($1.3 billion), although details about the investors were not disclosed.

Chinese firms take on EV truck challenges

IM Motors will launch two pure electric models and two extended-range models, totalling four new products, in 2025, SAIC said in a statement.