Zhiji Auto secures a 5 billion RMB loan from 9 financial institutions.

Recently, IM Auto has successfully signed a 5 billion RMB syndicated loan. SAIC Finance Co. acted as the lead arranger, ICBC as the arranging bank, and Bank of Communications as the joint lead arranger. They joined forces with nine financial institutions including Bank of China, China Construction Bank, Agricultural Bank of China, China Merchants Bank, Shanghai Bank, and Pudong Development Bank to form the syndicate.

Orders for IM LS7 in the first week of April have been sold out, and the 90 kWh four-wheel drive version won’t be delivered until July.

It is expected that the IM Auto Brand Experience and Delivery Service Centers will grow significantly to 220 in number, covering over 60 first- and second-tier cities throughout the year.

This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.