Huawei’s carmaking partner Seres aims to sell one million EVs by 2026 in face of tough competition: report
- Huawei and Seres have signed a deal to deepen their cooperation on making EVs, according to report
- Aito, co-developed by Seres, was Huawei’s first high-profile move into the car business as part of its efforts to look for new sales streams
Huawei Technologies Co’s carmaking partner Seres has published a target to sell 1 million electric vehicles (EV) by 2026, banking on closer collaboration with the Chinese tech giant as it takes on cutthroat competition in the world’s largest car market.
The two companies, who co-developed premium EV brand Aito, signed a deal on Saturday under which Huawei will develop artificial intelligence and other technologies to aid the driving experience while Seres will work on materials and manufacturing craftsmanship, according to a report by state-owned media outlet China Securities Journal.
Seres also announced a goal of producing and selling 1 million units of new energy vehicles (NEV) by 2026 based on the partnership with Huawei, with new models incorporating an advanced AI driving system.
Richard Yu Chengdong, chief executive of Huawei’s car unit, described Seres as the company’s earliest and closest car-making partner and said it will continue its long-term partnership with the carmaker in future, according to the report.
Huawei declined to comment on the report. Seres did not immediately respond to a request for comment.
The report of deeper cooperation between Seres and Huawei came after speculation earlier this month that Huawei was about to part ways with Seres as it looked for new partners. Both companies denied the reports.