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China EV Startup to Invest $2.4 Billion on New Models
Chinese electric vehicle startup Singulato Motors says it will spend 15 billion yuan ($2.4 billion) over the next five years to open a manufacturing plant and a research and development center in Suzhou.
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Chinese electric vehicle startup Singulato Motors says it will spend 15 billion yuan ($2.4 billion) over the next five years to open a manufacturing plant and a research and development center in Suzhou.
The new factory will focus on compact cars and crossover vehicles. Singulato didn’t say when construction on the site would begin or when the company hoped to launch production there.
Singulato, which was formed in late 2014, plans to launch its first vehicle—the iS6 SUV (pictured)—later this year. That vehicle will be produced at the company’s first assembly plant in Tongling.
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