Chongqing - Huawei Digital Energy Technology Co., Ltd. has recently signed a cooperation agreement with Seres Group in Shenzhen to co-boost the development of new energy vehicles. 

Specifically, the two parties will engage in comprehensive strategic cooperation in intelligent electric components for new energy vehicles, technology development and application of new energy vehicle platforms, construction and operation of new energy vehicle charging networks, and internationalization of new energy vehicles.

Seres Group is a Chongqing-based automaker, with AITO brand EVs leading the current market. (Photo/Seres)

According to the agreement, the collaboration will encompass joint research and development and manufacturing component products such as electric drives, on-board charging, range-extender systems, and intelligent photovoltaics. Huawei Digital Energy brings its accumulated expertise in digital technology and power electronics, complemented by Seres' proficiency in the research, manufacturing, sales, and service of electric vehicles.

The two parties will also work together to advance the deployment of new energy vehicle charging and supercharging networks, achieve platform interconnection, and jointly promote the technical development and international market expansion of internationalized products.

The collaboration between Huawei and Seres dates back to 2018, with both parties starting their cooperation in smart electric vehicles. In 2021, they successfully achieved product mass production, gaining widespread recognition from the market and users in models like AITO M5 and M7.

On December 26, 2023, at Huawei's winter full-scene release conference, the AITO M9 was unveiled, offering four models in two power forms: extended range and pure electric, with prices ranging from 469,800 to 569,800 yuan (approximately 65,000 to 80,000 USD). With 52 degrees of electricity, the extended-range version achieves a comprehensive range of 1402 kilometers (CLTC conditions) when fully fueled and charged. The initial deliveries for the new car are set for January 26, 2024. Huawei's CEO, Yu Chengdong, asserted that the AITO M9 "will redefine the best smart SUV under 10 million yuan."

Founded in 1986, Seres Group is a technology-oriented manufacturing enterprise with new energy vehicles as its core business. Listed on the A-share market, the company currently employs 20,000 individuals. 

In 2022, Seres Group achieved an operating income of 34.105 billion yuan, marking a remarkable year-on-year increase of 104%. The new energy vehicle business played a pivotal role, contributing annual revenue of 24.934 billion yuan, reflecting a substantial year-on-year increase of 482.8%, constituting 73.1% of the company's operating income. Serving as the core growth engine, the new energy vehicle business continued its strong performance in 2022, with cumulative production and sales reaching 139,132 and 135,054 vehicles, respectively, showcasing a notable year-on-year increase of 233.6% and 225.9%, surpassing the industry average growth rate.