SAIC Motor plans to directly hold part of IM Motors’ equity, converting indirect ownership via the Yuanjie Fund into a group-level stake, with the restructuring effective from January 31, 2025.
SAIC Motor announced on December 23 that it plans to simplify its shareholding structure in IM Motors by converting part of its indirect equity interest, previously held through the Yuanjie Fund, into a direct shareholding by SAIC Motor.
The reference date for the in-kind distribution is set for January 31, 2025.
The Yuanjie Fund was jointly established by SAIC Motor, Shanghai Zhangjiang Hi-Tech Park, and Hengxu Capital, with a mandate to invest in high-end intelligent electric vehicle projects.
The fund has a total committed capital of RMB 7.2 billion ($1.01 billion), of which SAIC Motor contributed RMB 5.399 billion ($755.86 million), representing an ownership stake of approximately 74.99%.
In December 2020, the Yuanjie Fund signed an investment agreement with its underlying investee, IM Motors.
To date, the fund has fully contributed the agreed RMB 7.2 billion ($1.01 billion) to IM Motors and holds registered capital in the same amount.
Following the restructuring, the Yuanjie Fund’s capital contribution will be reduced from RMB 7.2 billion ($1.01 billion) to RMB 1.801 billion ($252.14 million).
From a structural perspective, the adjustment does not involve any new investment but represents a clear reshaping of the ownership pathway.
The shift from fund-based ownership to direct group-level shareholding is expected to clarify IM Motors’ positioning within SAIC Motor’s corporate structure and help reduce intermediate layers in areas such as resource allocation and decision-making efficiency.
Viewed alongside SAIC Motor’s recent strategic statements, the move is consistent with its broader direction.
IM Motors, together with Shangjie, is regarded as one of the group’s two core projects underpinning its intelligent transformation.
As competition in the new-energy vehicle market continues to intensify, SAIC Motor has been directing resources more directly toward its key brands.
On the market side, IM Motors has delivered relatively stable performance this year. In November 2025, the brand recorded sales of 13,577 units, exceeding 10,000 units for three consecutive months.
Cumulative sales for the first 11 months of 2025 reached 69,199 units, up 20.35% year on year.
Meanwhile, IM Motors has expanded into overseas markets including the UK, New Zealand and Singapore in the second half of this year, with the IM5 (China’s L6) and IM6 (China’s LS6) models launched simultaneously.
Under SAIC Motor’s broader global expansion strategy, IM Motors is also positioned to play a visible gateway role internationally.
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