IM Motors ambitious to sell 45,000 vehicles through 2023

Shanghai (Gasgoo)- IM Motors, the premium electric vehicle (EV) maker co-backed by SAIC Motor, Alibaba Group, and Zhangjiang High-Tech, aims to sell 45,000 vehicles in 2023, and eyes a 200,000-300,000 units of scale in both annual output and sales by 2025, said Liu Tao, co-CEO of IM Motors.

IM Motors has one production model, the IM L7, delivered to users. According to data by the China Passenger Car Association (CPCA), sales of the IM L7 reached 4,811 units last year, indicating that a year-on-year surge of over 800% should be achieved to hit the yearly sales target this year.

IM LS7; photo credit: IM Motors

On Feb. 13, IM Motors put its second mass-produced and also first SUV model, the IM LS7, onto the market.

Coming with six trim levels, the IM LS7 features a price range of 309,800 yuan-459,800 yuan ($45,220-$67,120), which is lower than that of the IM L7 (338,800 yuan-578,800 yuan). It is scheduled for delivery in March.

IM Motors intends to roll out some more afforable models to expand into the mainstream consumption market. According to Liu Tao, the automaker plans to launch a mid-sized SUV in 2023 to take on Tesla’s Model Y, and a sedan model will be introduced next year to vie with the Model 3.

As of Dec. 2022, IM Motors had deployed 113 experience and delivery centers in China. It will strive to raise the number to 180 by Jun. 30 and to 240 by the end of this year.