Telecoms giant Huawei Technologies and Chinese NEV maker Seres Group’s joint venture, Aito, has shaken up the world’s largest automotive industry with the new M7 model. According to Bloomberg, the Aito M7 has already secured over 50,000 orders in just 25 days since starting pre-sales in September.
In effect, Seres Group’s stock surged more than 50% since the launch of the Aito M7.
Huawei’s role
Apart from providing the HarmonyOS 4-powered ADS 2.0 autonomous driving system, Huawei’s strong customer appeal in China has also contributed to the early success of the new Aito M7.
“The new M7 is gaining traction due to its upgraded, Huawei-developed ADAS and connectivity technologies, competitive pricing as well as greater showroom traffic brought by Huawei’s new Mate 60 smartphone.”
Joanna Chen, an analyst with Bloomberg Intelligence
As the report indicated, Huawei has an enormous retail shop network in the Asian country.
Sock investors also celebrated the Aito M7’s 50,000 orders milestone, enabling the Seres Group to advance as the MSCI Asia Pacific Index’s top performer with a stock growth of over 50%.
“The success of Huawei-backed Aito M7 bears no doubt. Investors should increasingly focus on the potential headwinds [from other Huawei EVs due to be released later this year].”
Morgan Stanley analysts, including Cindy Huang, wrote in a note
Aito M7 Design
Aito’s new M7 features a low-wind resistance layout that enables the industry-leading coefficient of 0.298cd, HC Newsroom asserts.
It also has a lower body height with an active air intake grille. It is also equipped with features 21″ dual and 10″ wide-spoke sports wheels. Apart from these, it also has a four-door electric suction function and 100% automatic comfort e-pedals.
It also boasts a “dual intelligence” ceiling that enables a smarter and superior interactive experience, apart from Huawei’s ADAS features.
Performance
The new Aito M7 also features the innovative Huawei DriveONE extended-range electric drive system that offers 4s-level power performance from 0-100 km/h. This technology improves the car’s performance and driving experience.
It also features the Huawei DATS 2.0 dynamic adaptive torque system supporting steady and smooth driving for urban roads and highways. Its front and rear suspensions also have dual FSD variable damping shock absorbers for more enjoyable long-distance driving.
See Also:
- Huawei, Seres partner for the development of a new vehicle platform, targets 1 million NEV sales by 2026
- CATL, SERES signed a five-year strategic cooperation agreement to supply Qilin batteries for new AITO models
- Huawei-backed EV brand Avatr to launch Avatr 12 electric sedan
- BAIC, Huawei collaborate to launch new electric vehicle brand
- Xiaomi CEO announces plans to begin its EV production in 2024
Seres Group’s significant stock increase comes amid the declining records of industry leaders Tesla and BYD. The new Aito M7 poses a serious threat to current top-selling models like Tesla Model 3 and BYD Atto 3 with a starting price of just between CNY249,800 ($34,198) to CNY329,800 (USD45,150).
Aito also offers a discount of 33,000 yuan ($4530) for orders placed before October 7.
