SAIC Motor Corp’s electric vehicle unit, IM Motors, is gearing up to unveil its first EREV model early next year, taking direct aim at Li Auto’s popular Li L7 SUV.
IM Motors’ initial foray into EREVs comes in the form of an SUV slated for release in the first quarter of 2025, according to a report by local media outlet 36kr, citing sources familiar with the matter.
The company’s EREV project, initiated in the latter half of 2023, is strategically focused on capturing a significant market share swiftly, especially with the growing popularity of plug-in hybrid electric vehicles (PHEVs) and EREVs in China’s evolving automotive landscape.
IM Motors’ co-CEO Liu Tao underscored the significance of the upcoming EREV model, stating, “Our 5th model will feature extended-range technology, which will make up for the lack of fast charging and a short range of only 200 kilometers on battery power for the current average EREVs.”
The move marks a notable shift for IM Motors, a joint venture between SAIC, Zhangjiang Hi-Tech, and Alibaba, which has primarily focused on battery electric vehicles (BEVs) like its current lineup of sedans and SUVs.
IM Motors’ decision to enter the EREV market reflects broader industry trends, with EREV sales in China soaring to 620,000 units last year, a remarkable 186 percent year-on-year increase, surpassing the growth rates of both PHEVs and BEVs.
The upcoming IM Motors EREV model will be based on SAIC’s platform internally codenamed E1, capable of accommodating larger battery packs and tandem architectures, setting the stage for an intriguing competition in China’s rapidly evolving new energy vehicle (NEV) market.
