As the EV market continues to grow, an increasing number of players are making entrances into the space. Increasingly, we are seeing mobile phone and technology companies expand or announce plans to move into the electric vehicle market. Brands such as Huawei, Sony and Xiaomi already have EVs on the road or, have plans in place to release EVs in the future.
JAC and Huawei recently announced they had signed a strategic partnership and plan to release a luxury EV onto the market in 2025. This builds on Huawei’s existing partnerships with the Seres Group, Chery and Changan. It is expected JAC and Huawei will release a sedan, priced at RMB1 million (USD140,000) in a segment to rival BMW’s 7-Series. Although a joint project, JAC will have overall responsibility. The construction of the partnership’s plant in China’s eastern Anhui province is nearing completion and once fully operational will have a capacity of several hundred thousand vehicles annually.
Huawei with the Seres Group jointly produces AITO branded cars, initially unveiling the battery electric AITO M5 in September 2022. With Chery, Huawei produces vehicles under the Luxeed brand, which began sale of its first model, the S7, at the end of November 2023 with a price of RMB250,000 (USD35,000).
Elsewhere in China,…
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