Asia Tech Wire (June 19) -- Chinese battery giant CATL and insurance giant Pacific Insurance have taken stakes in electric car maker IM Motors.

IM Motors Technology Co., Ltd. underwent an industrial and corporate change last week, adding a number of shareholders including investment arms under Bank of China and CATL, as well as China Pacific Insurance.

Chinese state-owned automaker SAIC Motor and Shanghai Zhangjiang High-Tech Park Development, which previously held indirect stakes in IM Motors, have also taken direct stakes in the company.

Meanwhile, the electric car company has increased its registered capital from about 10.85 billion yuan to about 13.77 billion yuan.

Not long ago, IM Motors announced that it had secured over 8 billion yuan in a Series B equity financing.