IM Motors raises $1.1b in one of biggest recent deals in Chinese EV space

IM Motors raises $1.1b in one of biggest recent deals in Chinese EV space

FILE PHOTO: A logo is painted on the floor where electric car chargers can be seen in Northwich, Britain, September 20, 2023. REUTERS/Molly Darlington/File Photo

IM Motors, a premium electric vehicle brand of state-owned Chinese automaker, said on Friday it has raised more than 8 billion yuan ($1.1 billion) to work on new smart car models and technologies.