Singulato
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Singulato Motors (奇点汽车) was a Chinese electric-vehicle startup founded in 2014 by Shen Haiyin, a former vice president of data-security company Qihoo 360. One of China's earliest new-energy vehicle startups and an early rival of Nio, it developed the iS6 electric mid-size crossover SUV, the iM8 electric MPV concept, and the iC3 electric city car based on Toyota's iQ platform. Backed by investors including Intel and Itochu, it reportedly raised about $2.4 billion.
02 / Singulato FAILURE REASONS
Failure reasons
Singulato burned through billions without ever delivering a vehicle: after raising about $2.4 billion, repeated production delays (the iS6, first promised for late 2018, never shipped), and failed fundraising, the company collapsed under creditor pressure. In June 2023 the Intermediate People's Court of Tongling accepted its bankruptcy and liquidation case; its parent faced debt claims of 98.3 million yuan ($13.5 million).
03 / EVENT HISTORY
Events in the structured record
- Company founded
Shen Haiyin founds Singulato Motors in China to build intelligent electric vehicles, aiming to compete with Nio and other EV startups.
- Funding peak and product plans
Singulato reportedly raises about $2.4 billion to bring its iS6 electric SUV to market, announcing a RMB 3 billion Series C round and a partnership with BAIC BJEV; Toyota agrees to sell it EV technology for the iC3 city car. The iS6, promised for late 2018, is postponed.
- Funding strain
The company scrambles for new funding, including a RMB 6.33 million injection and new shareholders backed by the Anhui provincial government, Lenovo's Legend Star, and Itochu, as the iS6 still fails to reach production.
- Bankruptcy and liquidation
On June 26, 2023, the Intermediate People's Court of Tongling City accepts Singulato's bankruptcy and liquidation case and designates an administrator on June 30; the company formally files for bankruptcy in July 2023 without having delivered a single vehicle.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Singulato reportedly raised about $2.4 billion in funding, including a $600 million investment led by the Tongling municipal government in 2016 and a RMB 3 billion Series C in 2018.
- 02
The iS6 SUV never reached production despite repeated promises; related entities began winding down in late June 2023.
- 03
The Tongling court accepted bankruptcy liquidation on June 26, 2023; the parent faced 98.3 million yuan ($13.5 million) in debt claims. No reliable realized-loss figure with subject/period/basis was disclosed.