IM Motors ventures once again into the fiercely competitive 350,000 yuan market.
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The 350,000 RMB six-seat SUVs are becoming the most crowded price range in the high-end new energy market.
New models continue to flood in, but the demand has not grown in sync. In the first half of 2026, domestic passenger car retail sales totaled 8.701 million units, a year-on-year drop of 20.2%. However, the launch of new vehicles continues to increase—with over 600 new models introduced in just the first half, averaging at least three new products entering the market every day.
Among them, the supply-demand imbalance for large six-seat SUVs is especially prominent. Several new models sell less than 2,000 units per month, and only a few models consistently exceed 10,000 monthly sales. Supply continues to expand, with over 20 new high-end models expected to enter this segment this year.
On July 16, the IM LS9 Hyper was officially launched, with a preferential price of 349,800 RMB. At the same time, the LS9 52 Ultra Steer-By-Wire edition was introduced, at 319,800 RMB.
However, this is not IM's first time entering the 350,000 RMB segment. Previously, both the L7 and LS7 entered this price range. This time, IM is attempting to differentiate with newly implemented Chinese national standard technology, and to lower the threshold with a 349,800 RMB price. Whether this approach can be translated into measurable orders still depends on the delivery data.
01 Gaining an Advantage in the Red Ocean
In the 300,000–400,000 RMB large six-seat and flagship SUV segment, terminal competition has become extremely fierce, leaving little room for error.
From a product strategy perspective, the pricing and configuration of the IM LS9 Hyper reflects both a defensive and offensive approach.
Jiao Qiao, Senior Director of IM Automotive Brand and User, stated frankly that the top-spec Xpeng GX also has a price of 349,800 RMB, and the NIO ES8, after adopting the BaaS battery leasing scheme, has also brought its entry price below 400,000 RMB. Facing these strong competitors that have already gained some market traction, IM chose to build its core moat with “next-generation chassis, next-generation intelligence, next-generation three electrics”—the "new three core components".
The popularization and standardization of chassis technology across the entire range is a key feature with which the LS9 Hyper tries to open a market gap. Currently in the industry, models equipped with Steer-By-Wire are usually reserved as a standard or optional feature for flagship models priced above 600,000 RMB.
IM has broken this convention by introducing steer-by-wire chassis and the industry’s largest-angle dual-direction 24-degree rear-wheel steering technology to the 350,000 RMB market. The most intuitive result is that, despite the LS9 Hyper being nearly 5.3 meters long, its minimum turning radius is compressed to just 4.77 meters—making it even more agile than small cars like the VW Polo and MINI.
On July 16, IM Automotive CTO Xiang Jiao explained the logic behind this decision to Wallstreetcn: "Our assessment is that a fully Steer-By-Wire digital chassis will be the physical foundation and cornerstone for more advanced intelligent driving and smart vehicle products in the future."
However, making a technology that was traditionally only standard or optional for cars above 600,000 RMB available across the entire range means cost control is crucial.
Xiang Jiao further broke down the cost control logic: On one hand, IM’s full-stack in-house development broke the "black-box premium" previously held by overseas technology providers; On the other, SAIC Group itself led the drafting of the new national standard for steer-by-wire, so early technology research greatly reduced R&D cycles and costs; Additionally, leveraging SAIC's massive supply chain network created scale effects for chips and actuators, which in the end reduced overall cost.
But the market adoption of cutting-edge technology is often accompanied by user adaptation pains.
To lower the adaptation barrier for consumers, Xiang Jiao shared that the steer-by-wire system has three adjustable modes: a 470-degree setting close to traditional feel, a 240-degree recommended mode, and a 180-degree sporty mode. He also added that when the vehicle is at high speeds, regardless of the mode, the steering ratio will automatically approach that of traditional mechanical steering for stability.
On both core dimensions of intelligence and the electric drive system, the LS9 Hyper is also taking defensive measures.
On the intelligent driving side, IM is deeply bonded with Momenta as a founding “lighthouse partner”—the new car will feature Momenta’s IM AD ZETA world model, attempting to secure a top spot among domestic high-level intelligent driving players.
Logically, introducing advanced technology in exchange for higher product recognition is justified, but it still requires continued monitoring, as user education about features like steer-by-wire remains at an early stage, and rival products may soon follow. Whether this technology can become a key factor in consumers’ decisions still needs to be validated by IM.
02 SAIC’s Ambition for Going High-End
In May 2026, SAIC Group became the first Chinese automaker to reach a cumulative global production and sales of 100 million vehicles.
The IM LS9 Hyper is defined as the "100 millionth milestone" model and was personally delivered by SAIC Group Chairman Wang Xiaoqiu to Momenta founder and CEO Cao Xudong.
This delivery reinforced IM’s brand story, but what really determines if it can stand firm in the market is still delivery and sales performance.
However, judging from sales data, IM is still climbing.
In the first half of 2026, IM delivered a cumulative 40,087 vehicles, an increase of 58% year-on-year. Among new energy sub-brands under traditional automotive groups, Zeekr delivered 178,400 units in the same period, Voyah 76,300, IM 40,100, and AVATR 27,600. There is still a gap with top players in terms of scale, but the growth rate remains resilient against an overall declining market.
From a product structure perspective, LS9 sold 7,203 units from January to May, contributing about 18% of total brand sales. The LS6 and LS8 remain sales mainstays, as IM transitions from relying on the LS6 alone to a multi-model lineup.
Jiao Qiao’s evaluation: "Compared to the same period last year, the first half saw pretty good growth, but I think there’s still a long way to go."
He also disclosed the second half schedule: August–September will see annual pure electric refreshes of LS6 and L6, October the pure electric LS8, and more new models by year-end. Overseas, IM has opened stores in 43 countries and regions.
The deep partnership with Momenta is a key part of IM's smart strategy.
Momenta was listed on HKEX on July 8; IM is a founding lighthouse partner. Jiao Qiao revealed: "Many competitors' models using Momenta's solutions have calibration and validation that we participated in—our version can be considered the 'original research car.'"
This positioning gives IM an early advantage in the adaptation depth and iteration speed of intelligent driving systems.
On the organizational side, Xiang Jiao stated that IM's R&D has been adjusted: “The chassis division has become the vehicle dynamics and intelligence division,” and a CTO-direct AI product line and AI empowerment department have been set up, using AI tools to assist engineers in development.
For IM, the standardization of steer-by-wire chassis, organizational restructuring, and an intensive rollout of new models in the second half of the year all show that the company is not backing away from competition in the latter half of the new energy race. However, in the high-end, red-ocean 350,000+ RMB segment, the window for technological leadership is narrowing.
A battle pitting technology against brand erosion is already underway in the fiercely competitive 350,000 RMB flagship SUV market.
Please double-check the contents of the text, especially whether the statements from Jiao Qiao and Xiang Jiao are all present in the original material and whether the meanings are accurate.
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