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IM Motors to see its valuation grow to nearly CNY 30 billion after completing initial funding round
On August 1, IM Motors (Zhiji Motors in Chinese), an EV brand backed by SAIC Motor Corporation Limited (SAIC Motor), announced that it signed an agreement for its Series A equity financing. Upon completion of the first round of market-based funding, the EV maker will see its valuation grow to nearly CNY 30 billion.
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