Singulato teams up with BAIC BJEV to develop intelligent vehicles, announces RMB 3 billion C-round funding

Shanghai (Gasgoo)- At Auto China 2018 on Apr. 25, Singulato Motor announced that it will conduct overall strategic cooperation with BAIC BJEV in technology development, construction of battery charging and swapping facility, sharing of dealership network and manufacturing resources.  

What's more, Singulato Motor also launched an all-new model, the iM8 as well as its new brand slogan dubbed "Code My D.N.A". Moreover, Singulato revealed that the iS6 will be mass produced and launched at the end of 2018.

At the same time, Singulato Motor will join the Nation New Energy Vehicle Technology Innovation Center which is initially built by BAIC BJEV. In the future, Singulato Motor will join forces with BAIC BJEV to co-develop the center, based on several common principles, such as joint negotiation, management and sharing. Both parties will be committed to the development of Chinese intelligent NEV industry.

When it comes to financing, Singulato Motor closed RMB 3 billion C-round funding and established a RMB 10 billion investment fund for intelligent EV industry with Suzhou Municipal Government. The investment will cover large-scale auto-related industries, such as battery, electronic control, electric motor, designing, engineering, material, AI, cloud computing, big data and intelligent hardware. Adding with the previous $600 million B-round funding, Singulato's cumulative funding has reached RMB 17 billion by far.

Under the concept of intelligence, connectivity and sharing, the Singulato iM8 is an all-scenario intelligent electric MPV, which adopts a unique "Mobile Magic Cube" design concept that entirely subverts the stereotype of a traditional MPV or a baby-sitter car. The iM8 boasts aggressive and fluent lines, colorful body and bold-designed interior. Moreover, the model offers luxuriously spacious cabin with a variety of high-tech amenities.