Deals
Alibaba-Backed EV Maker IM Motors Weighs Raising Fresh Funds, Sources Say
- Shanghai firm may raise about 6 billion yuan to help expansion
- IM Motors working with advisers including CICC on fundraise
The IM Motors L7 electric vehicle.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
IM Motors, a Chinese premium electric-vehicle maker backed by Alibaba Group Holding Ltd. and SAIC Motor Corp., is considering raising new funds to help finance expansion plans, according to people familiar with the matter.
The Shanghai-based company is working with advisers including China International Capital Corp. as it seeks to raise about 6 billion yuan ($828 million), the people said, asking not to be identified because the matter is private.