Baic's Ev Brand To Launch First Huawei: backed sedan in 2024

Baic Motor

20/02/2024 06:20

BEIJING, Feb 20 (Reuters) - BAIC BluePark New Energy
Technology  600733.SS , the electric vehicle arm of Beijing
Automotive Group (BAIC)  1958.HK , plans to launch its first
sedan in partnership with Huawei Technologies this year, as
Huawei steers into the EV market.
    The first model co-developed with Huawei is scheduled to hit
the Chinese market this year, BAIC BluePark said on Monday, in
response to an investor question. 
    The car will be "a high-end intelligent sedan to meet
consumers' demand for premium mobility experiences," the
state-owned automaker added, without giving specifics.
    The tie-up signals Huawei's bigger EV footprint that has
seen the Chinese technology giant, the target of U.S. sanctions
since 2019, encroaching on the territory of established EV
makers.
    Aito, an EV marque co-founded by Huawei and carmaker Seres
 601127.SS  in late 2021, topped Li Auto  2015.HK  for the first
time in sales in January, helped by the introduction of revamped
M7 in September.
    Huawei has also built the S7 sedan with Chinese automaker
Chery Auto under a new marquee, Luxeed, that it intends to take
on Tesla's Model S.
    In November, Huawei revealed plans to move core technologies
and resources in its four-year-old smart car operations to a new
joint venture owned up to 40% by automaker Changan Auto
 000625.SZ , which makes Avatr-branded cars with Huawei.
    A shortage of a component belonging to a computing unit that
powers Huawei's advanced driver assistance systems has resulted
in delayed deliveries of flagship models from some of its
partners including Changan, Chery and Seres, Reuters reported
earlier this year.

 (Reporting by Qiaoyi Li, Zhang Yan and Brenda Goh; Editing by
Stephen Coates)
 ((qiaoyi.li@thomsonreuters.com;))