Latest news with #Aito-branded


South China Morning Post
28-04-2025
- Automotive
- South China Morning Post
Seres, Huawei's carmaking partner, plans Hong Kong listing to fund global expansion
Seres Group , the carmaking partner of Huawei Technologies, has submitted an application to list its shares in Hong Kong. Advertisement The Chongqing-based company, which builds Aito-branded intelligent electric vehicles (EVs), said in a filing to the Hong Kong stock exchange on Monday that it would use the proceeds from the share sale to diversify its sales channels, bolster deliveries to overseas customers, expand its charging network and enhance global brand awareness. The company did not specify the amount it plans to raise. The Shanghai-listed company was valued at 208 billion yuan (US$28.5 billion) on Monday after its shares slid 1.4 per cent to 127.25 yuan. Seres will be the latest mainland Chinese EV company to tap the Hong Kong market as competition in the domestic market intensifies. 'In the future, we will probably face more new rivals in the EV market, and competition is set to get fiercer,' it said. Seres and Huawei jointly produce Aito-branded electric vehicles. Photo: Shutterstock Supported by Huawei's autonomous driving and digital cockpit technologies, Aito has reported surging deliveries over the past three years. In 2024, the company delivered 387,100 vehicles to mainland customers, up 268 per cent from a year earlier. Advertisement


Asharq Al-Awsat
21-02-2025
- Automotive
- Asharq Al-Awsat
China's SAIC, Huawei to Partner in Developing New Smart EVs
Chinese automaker SAIC Motor said on Friday it would partner with tech company Huawei to develop new "globally competitive" smart electric vehicles. The tie-up sees yet another state-owned automaker betting on partnerships with Huawei, which has risen to prominence as a supplier of smart driving technologies, to boost EV sales, Reuters reported. "The strategic cooperation between SAIC and Huawei will further leverage their respective advantages and promote China's automotive industry to a new level in the intelligent era," SAIC said in the statement. The deal signed on Friday provides for the two companies to cooperate strategically on manufacturing, supply chain management and sales services, SAIC said in a statement, without revealing the marquee of the co-developed lineup. The state-owned automaker reported a decline of 20% last year in overall vehicle sales, amid a brutal price war and bruising competition in the world's largest auto market. Its venture with Volkswagen saw sales down 5.5% while SAIC-GM's sales slumped 56.5%. SAIC, hit with the EU's steepest extra tariffs of 35.3%, also suffered a slide of 14% in overseas shipments in 2024. The deal adds to Huawei's expanding partnerships with state-owned automakers such as Changan, Dongfeng and BAIC Motor. Changan set up a joint venture with Huawei and battery maker CATL in 2022 to make Avatr EVs, the sales of which more than doubled in 2024 on the year. Dongfeng-backed Seres more than tripled its annual sales of Aito-branded cars in 2024, with the best-selling models equipped with Huawei's advanced driver assistance systems and sold in the tech firm's showrooms nationwide. Huawei and BAIC launched their first EV under the joint brand Stelato in August.
Yahoo
21-02-2025
- Automotive
- Yahoo
China's SAIC, Huawei to partner in developing new smart EVs
BEIJING (Reuters) - Chinese automaker SAIC Motor said on Friday it would partner with tech company Huawei to develop new "globally competitive" smart electric vehicles. The tie-up sees yet another state-owned automaker betting on partnerships with Huawei, which has risen to prominence as a supplier of smart driving technologies, to boost EV sales. "The strategic cooperation between SAIC and Huawei will further leverage their respective advantages and promote China's automotive industry to a new level in the intelligent era," SAIC said in the statement. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. The deal signed on Friday provides for the two companies to cooperate strategically on manufacturing, supply chain management and sales services, SAIC said in a statement, without revealing the marquee of the co-developed lineup. The state-owned automaker reported a decline of 20% last year in overall vehicle sales, amid a brutal price war and bruising competition in the world's largest auto market. Its venture with Volkswagen saw sales down 5.5% while SAIC-GM's sales slumped 56.5%. SAIC, hit with the EU's steepest extra tariffs of 35.3%, also suffered a slide of 14% in overseas shipments in 2024. The deal adds to Huawei's expanding partnerships with state-owned automakers such as Changan, Dongfeng and BAIC Motor. Changan set up a joint venture with Huawei and battery maker CATL in 2022 to make Avatr EVs, the sales of which more than doubled in 2024 on the year. Dongfeng-backed Seres more than tripled its annual sales of Aito-branded cars in 2024, with the best-selling models equipped with Huawei's advanced driver assistance systems and sold in the tech firm's showrooms nationwide. Huawei and BAIC launched their first EV under the joint brand Stelato in August.