Chinese EV startup Singulato secures $2.4B funding to bring its iS6 electric SUV to production

Chinese EV startup Singulato secures $2.4B funding to bring its iS6 electric SUV to production

According to a recently published Xinhuanet report, Chinese electric-vehicle start-up Singulato Motors has revealed that it has secured a funding of 15 billion yuan (approximately $2.4 billion USD) for bringing its iS6 electric SUV to the market.

The announcement of the funding secured by Singulato earlier this week is an apparent indication of the fact that the electric-vehicle startup is set to emerge as another well-funded rival to Tesla in the EV market.

The $2.4-billion funding raised by Singulato will be invested in a gigantic manufacturing hub in Suzhou (east China) over a five-year period. The move implies that the EV startup has some massive plans underway to commence the production of its iS6 SUV to production, in partnership with the Suzhou government.

The iS6 electric SUV was first unveiled by Singulato in 2016, when it appeared to be a strange-looking vehicle with huge double gull-wing doors. The vehicle has now been tamed down by Singulato for the production version.

The electric SUV now features suicide doors with a full B-pillar; and its interior boasts a huge center display, with a Tesla-like user interface on the instrument cluster. The vehicle takes barely 4 seconds to accelerate from 0 to 100 km/h; and has a reported range of 400 km. The expected retail price of Singulato iS6 electric SUV will be between 200.000 and 300.000 yuan.