China’s Singulato Will Invest Billions Into Electric Vehicle Factory
Singulato Motors, another New Energy Vehicle start-up in the enormous Chinese market, hints at massive investments.
The company intends to invest 15 billion yuan ($2.4 billion) over the next five years. The plan includes two manufacturing sites – one in Suzhou for compact-size cars, and q second in Tongling for mid- and large-size cars.
The first model is to be Singulato iS6 in both 5-seat and 7-seat versions, 2WD and 4WD powertrain options, and NEDC range of 400 km (249 miles) or 300 km (186 miles).
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Beside cars, Singulato Motors seems to be interested in researches as thousands of researchers are expected to work on new tech:
“A partnership between the company and the Suzhou city government covers research and development, production and industrial investment in the NEV industry.
Singulato Motors will set up a global research and development center in the city and will employ about 2,000 to 3,000 researchers in next five years to focus on advanced technologies like autonomous driving.”