SAIC Motor Corp’s electric vehicle (EV) arm, IM Motors, has unveiled the 2024 L7 sedan with a significantly reduced starting price and enhanced features, amid escalating competition in China’s EV market.
The refreshed flagship sedan was launched on February 24, offering four variants priced at RMB 299,900 ($41,700), RMB 349,900, RMB 389,900, and RMB 419,900, respectively. Previously, the model was available in three versions starting at RMB 338,800, RMB 368,800, and RMB 408,800.
This marks a substantial decrease of RMB 38,900, or 11.5 percent, in the starting price of the updated L7. IM Motors commenced deliveries of the L7 in June 2022, marking the debut of the mid-size all-electric sedan in its lineup.
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The upgraded L7 now boasts intelligent features, smart driving capabilities, and AI interaction, along with standard inclusion of two LiDARs and one Nvidia Orin X chip.
The vehicle is offered in both single-motor and three dual-motor versions, with the former featuring a rear motor with a maximum power of 250 kW, torque of 175 Nm, and acceleration from 0 to 100 km/h in 5.9 seconds.
The dual-motor variant consists of a front motor with a maximum power of 175 kW, torque of 250 Nm, and a rear motor with a maximum power of 250 kW, torque of 175 Nm, accelerating from 0 to 100 km/h in 3.87 seconds.
Equipped with a Li-ion ternary battery pack from CATL with a capacity of 90 kWh, the new L7 offers a CLTC range of 705 km for the single-motor version and 625 km for the dual-motor version.
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Aside from the reduced starting price, IM Motors is providing a gift package valued at up to RMB 63,800 for customers who place orders for the updated L7 before March 31. This package includes a RMB 2,000 payment towards offsetting the car’s purchase price by RMB 10,000, along with configuration upgrades worth RMB 55,800.
Founded on November 26, 2020, by SAIC, Zhangjiang Hi-Tech, and Alibaba, with SAIC holding a majority stake, IM Motors introduced its second model, the LS7 SUV, in March 2023, with deliveries commencing shortly after. The third model, the LS6, was launched on October 13, 2023, and deliveries began at the end of October.