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BUSINESS & TECH

Quick Take: Electric Vehicle-Maker Singulato Set to Raise $476 Million

Photo: IC
Photo: IC

Electric vehicle startup Singulato Motors is set to complete a 3 billion yuan ($474.6 million) fundraising round next month, just as it forges a manufacturing partnership with a state-owned automaker’s new-energy vehicle unit.

Singulato’s “C” round of fundraising will conclude in May, co-founder and CEO Shen Haiyin told reporters at the Beijing Auto Show on Wednesday. Shen didn’t disclose further details.

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