Singulato, BAIC partner to promote smart new energy vehicles

Source: Xinhua| 2018-04-25 18:43:50|Editor: Liangyu
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BEIJING, April 25 (Xinhua) -- Chinese new energy vehicle (NEV) start-up Singulato Motors has partnered with BAIC Group's NEV unit Beijing Electric Vehicle Company to promote the development of smart NEVs.

The two sides will work on developing smart NEV technologies, charging facilities and sales network. Singulato Motors will also join BAIC BJEV's efforts to build a national NEV technology innovation center.

The announcement was made at the 2018 Beijing International Automotive Exhibition, which opened Wednesday.

Singulato Motors also said that its first mass production smart NEV model iS6 will go on sale in late 2018.

Singulato Motors, established in December 2014, covers businesses including NEVs, intelligent vehicle systems, and cloud car networking services. It has an accumulated financing worth about 17 billion yuan (2.69 billion U.S. dollars).

NEVs are gaining popularity in China, the world's largest auto market, thanks to a string of supportive policies, as they help reduce fossil fuel consumption and address air pollution.

The country's stock of NEVs reached over 1.6 million, about half the world's total. About 143,000 NEVs were sold in the first quarter of the year, up 154.3 percent year on year.