The electric vehicle brand aims to disrupt the premium EV market with high-tech innovations.
SINGAPORE – IM Motors, an electric vehicle (EV) brand founded through a joint venture between China’s SAIC Motor, Alibaba Group, and Shanghai Zhangjiang Hi-Tech Park Development, is set to make its debut at the Singapore Motorshow 2025 on January 9. This move marks its foray into the competitive Singapore market, where it will challenge Tesla and XPeng in the premium EV segment.
A Rising Player in the EV Market
Launched in 2020, IM Motors has quickly positioned itself as a high-technology premium EV brand. The company is majority-owned by SAIC (54%), while Alibaba and Zhangjiang each hold an 18% stake. The venture closed its Series B funding round on December 25, raising 9.4 billion yuan (S$1.8 billion) to bolster research, development, and international expansion.
Vehicles for Singapore’s Market
IM Motors will unveil two models at the motorshow:
IM5 Sedan (branded as the L6 in China)
IM6 Coupe SUV (known as the LS6 in China)
Both models aim to rival Tesla’s Model 3 and Model Y in performance and features. Eurokars Group, the distributor for MG Motors in Singapore, will oversee IM Motors’ retail operations. A dedicated showroom will be established on Leng Kee Road.
Launch Timeline and Pricing
Sales are expected to commence in the second half of 2025, although pricing details have not yet been disclosed. Industry observers anticipate competitive pricing to attract tech-savvy buyers seeking alternatives to Tesla and XPeng.
Technological Edge and Global Expansion
IM Motors has gained recognition for its advanced autonomous driving technologies and innovative EV designs. It is pursuing Level 3 autonomous driving certification in China and is aggressively expanding into international markets, supported by more than 8 billion yuan in funding raised earlier in March 2024.
Competing in a Growing Market
With Singapore’s EV adoption accelerating and competition intensifying among established brands like Tesla, XPeng, and Nio, IM Motors’ entry signals a new chapter in the local EV landscape. Its success will hinge on its ability to combine cutting-edge technology with competitive pricing and robust local support.
