Latest news with #Aito
CNBC
02-06-2025
- Automotive
- CNBC
China's Leapmotor and Huawei-backed Aito report record high deliveries in May as competition heats up
Chinese electric carmakers Leapmotor and Aito reported record high deliveries in May, while other startups struggle to catch up as the price war intensifies. Stellantis-backed Leapmotor delivered a record 45,067 vehicles in May, reflecting year-on-year growth of 148%. On May 15, the automaker launched an updated version of its C10 model, a mid-sized SUV, that retailed from 122,800 yuan ($17,045). Leapmotor said over 13,000 units of the C10 were delivered in May. And on Sunday, Seres-backed Aito announced on social media that it had delivered 44,454 vehicles, setting a new record. The automaker, which uses Huawei tech, on May 30 officially launched the Maextro S800, an ultra-luxury sedan, with a starting price of 708,000 yuan. Industry giant BYD maintained its stronghold in the industry, with 376,930 cars sold in May. Total car sales in May rose by 14.1% increase year on year, based on CNBC's calculations of publicly available figures. The automaker on May 23 slashed prices on 22 models, bringing the price of its Seagull hatchback down 20% to 55,800 yuan, causing Chinese automakers' shares to slide. The EV juggernaut has recently been scrutinized over claims that it had pressured Jinan Qiansheng, one of BYD's dealers in the eastern province of Shandong, over cash flow. BYD refuted claims in a statement to Chinese media. The intensifying price war has also sparked fears of a next "Evergrande" — China's former real estate giant, which defaulted on its debt in 2021. Xpeng May deliveries dipped to 33,525 vehicles from 35,045 vehicles the previous month. But the company reported a year-on-year growth of 230% and maintained its streak of delivering over 30,000 vehicles for the seventh consecutive month. The automaker on May 28 officially launched the Mona M03 Max and Plus models, retailing from 129,800 yuan and 119,800 yuan, respectively. Xiaomi delivered more than 28,000 vehicles in May, mirroring its performance last month. The smartphone company on May 22 teased a new model of YU7 luxury SUV, which is set to be officially launched in July. Other startups, however, experienced modest growth in deliveries. Li Auto delivered 40,856 vehicles in May, representing a year-over-year increase of 16.7%, while Geely-owned Zeekr delivered 18,908 vehicles, indicating a 1.6% year-on-year growth, based on CNBC calculations of publicly available data. That's despite Zeekr's attempts to differentiate itself from the competition with its announcement of free driver-assistance technology in March. Nio's May deliveries fell from the previous month, with a total of 23,231 vehicles delivered, reflecting 13.1% year-on-year growth. Onvo, Nio's family-oriented smart electric vehicle brand, made up 6,281 of total deliveries. That makes May Onvo's best-performing month so far this year. Chinese automakers are looking to diversify as competition intensifies. But tariffs imposed by the European Union and the U.S. on Chinese electric vehicles may impede efforts to expand into the West. Instead, companies may be looking to emerging markets such as those in Africa, Hong Kong-based South China Morning Post reported last week. BYD on April 24 announced its official entry into Benin, in collaboration with CFAO Mobility.
Business Insider
22-05-2025
- Automotive
- Business Insider
BMW and Mercedes outsold in China by an automaker you've never heard of
A Chinese electric vehicle brand has overtaken longtime market leaders BMW and Mercedes-Benz at the top of the world's biggest auto market. Aito, an EV brand launched by Seres Group and tech giant Huawei, topped China's high-end car sales last year with 151,000 units delivered — surpassing BMW's 145,000 and Mercedes-Benz's 127,000, according to data from Shanghai-based consultancy ThinkerCar. Aito's rise is largely due to the success of its flagship M9, a luxury SUV that went on sale in late 2023. The M9 quickly proved popular with Chinese drivers thanks to its tech-heavy features, including Huawei's HarmonyOS operating system, a triple-screen dashboard, and premium interior options. Seres, previously known for low-cost minivans under its DFSK Motor brand, repositioned itself with the Aito brand after forming a strategic partnership with Huawei in 2021. Since then, rapid growth has resulted. Vehicle sales tripled over three years to about 427,000 units last year, and its stock rose by 120% on the Shanghai exchange over the same period. Aito's success reflects a major shift in China's premium auto segment, which was once dominated by foreign brands. In 2020, Mercedes-Benz was top with 259,000 sales, followed by BMW on 235,000 and Porsche on 79,000, per ThinkerCar data. By 2024, Chinese EV makers such as Aito and NIO had broken into the rankings, disrupting what ThinkerCar described as a BMW, Benz, and Audi "monopoly." Sales of Chinese EVs are also rising outside their home market. BYD outsold Tesla in Europe for the first time in April, according to JATO Dynamics data released on Thursday. BYD also outsold Tesla globally in the first three months of the year, selling about 416,000 EVs, compared with Tesla's 336,700 EVs.
Straits Times
19-05-2025
- Automotive
- Straits Times
China's luxury car brand that's come from behind to overtake BMW
Aito, through its popular M9 SUV, became the best-selling car brand in China last year in the 500,000 yuan and above category. PHOTO: AFP BEIJING – In under four years, Seres Group, a small Chinese automaker once best known for its 30,000 yuan minivans, has beaten luxury legacy names like BMW and Mercedes to become the nation's hottest high-end car seller. Formerly called DFSK Motor, Seres partnered with telecommunications giant Huawei Technologies back in 2021 to launch the Aito brand of premium electric and hybrid sport utility vehicles. Since then, Seres has had a dizzying rise. Sales tripled in three years to around 427,000 vehicles in 2024, while the company's Shanghai-listed stock is up 120 per cent. Aito, through its popular M9 SUV, became the best-selling car brand in China last year in the 500,000 yuan and above category, despite the vehicle only being launched at the end of 2023. Deliveries of the spacious model, which features Huawei's Harmony operating system, a triple-screen dashboard and options such as a dual-zone refrigerator and ambient lighting, were around 151,000 units, according to data from Shanghai-based automotive consultancy ThinkerCar. The M9's most basic battery EV version starts from 509,800 yuan. Aito's flagship models are 'reshaping the luxury car market in China,' Seres chairman Zhang Xinghai said at the Shanghai auto show in April. 'Aito's success today is thanks to the market's recognition and customers' preferences.' Outside of the M9, Aito's latest premium model is the M8, a slightly smaller SUV launched earlier this year. China's luxury segment was seen as the last slice of the automotive market relatively insulated from the EV transition that's left mass market foreign carmakers such as Volkswagen and General Motors struggling to catch up. It's often thought that newer EV manufacturers with zero pedigree couldn't match the brand prestige they offered. Aito has proven that wrong, and shown how Chinese consumers' luxury tastes are shifting. It's also testimony to the success of China's smartphone makers Huawei and Xiaomi Corp. When the pair, independently, first started talking about entering the EV market around four years ago, they faced a large amount of skepticism. Xiaomi's sales have been impacted by a fatal crash involving one of its vehicles in late March, but despite that, its SU7 sedan continues to see healthy demand. Fronting a media briefing in 2022, Mr Zhang said many doubted that Seres, which up until that point mainly made cheap minivans, and Huawei, which had never made vehicles before, could manufacture a luxury marque. Seres' success faces some challenges, however. The luxury car market in China experienced a 23 per cent decline in 2024, ThinkerCar data show, impacted by the nation's economic slowdown and weak consumer sentiment. There's also the ongoing price war. The sticker price for most of the 2025 refreshes of the M9 was cut by between 10,000 yuan and 20,000 yuan and Aito is starting to fall behind. In January and February, Mercedes delivered 22,160 vehicles and BMW, 18,130, to overtake Aito at 17,190 units, according to ThinkerCar. Seres' overall sales also slumped in first quarter, falling by 42 per cent. A more unique hurdle to Seres lies in its tie-up with Huawei. The technology giant is setting up similar in-car software deals with other manufacturers. It's launched EV ventures like Luxeed with Chery Automobile, and Stelato, with BAIC Motor, which also target the high-end market. That's led to concerns around homogenisation and cannibalisation. Even some of Seres' European competitors, such as BMW, have teamed up with Huawei to offer intelligent features in their vehicles. Richard Yu, who oversees Huawei's consumer business group, is sanguine, saying the Aito premium brand has had its share of setbacks in its short life. 'It's hard work every time we build a brand, especially luxury brands,' Mr Yu said at a product launch last September. 'But we won't give up and will keep persisting,' he said, adding that Huawei is determined to make a success out of every automotive brand it launches with partners, not just Aito. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
19-05-2025
- Automotive
- Business Times
China's luxury car brand that's come from behind to overtake BMW
[HONG KONG] In under four years, Seres Group, a small Chinese automaker once best known for its 30,000 yuan (S$5,403) minivans, has beaten luxury legacy names such as BMW and Mercedes to become the nation's hottest high-end car seller. Formerly called DFSK Motor, Seres partnered with telecommunications giant Huawei Technologies back in 2021 to launch the Aito brand of premium electric and hybrid sport utility vehicles. Since then, Seres has had a dizzying rise. Sales tripled in three years to around 427,000 vehicles in 2024, while the company's Shanghai-listed stock is up 120 per cent. Aito, through its popular M9 SUV, became the best-selling car brand in China last year in the 500,000 yuan and above category, despite the vehicle only being launched at the end of 2023. Deliveries of the spacious model, which features Huawei's Harmony operating system, a triple-screen dashboard and options such as a dual-zone refrigerator and ambient lighting, were around 151,000 units, according to data from Shanghai-based automotive consultancy ThinkerCar. The M9's most basic battery electric vehicle (EV) version starts from 509,800 yuan. Aito's flagship models are 'reshaping the luxury car market in China', Seres chairman Zhang Xinghai said at the Shanghai auto show in April. 'Aito's success today is thanks to the market's recognition and customers' preferences.' Outside of the M9, Aito's latest premium model is the M8, a slightly smaller SUV launched earlier this year. China's luxury segment was seen as the last slice of the automotive market relatively insulated from the EV transition that's left mass market foreign carmakers such as Volkswagen and General Motors struggling to catch up. It's often thought that newer EV manufacturers with zero pedigree could not match the brand prestige they offered. Aito has proven that wrong, and shown how Chinese consumers' luxury tastes are shifting. A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up It's also testimony to the success of China's smartphone makers Huawei and Xiaomi. When the pair, independently, first started talking about entering the EV market around four years ago, they faced a large amount of scepticism. Xiaomi's sales have been impacted by a fatal crash involving one of its vehicles in late March, but despite that, its SU7 sedan continues to see healthy demand. Fronting a media briefing in 2022, Zhang said many doubted that Seres, which up until that point mainly made cheap minivans, and Huawei, which had never made vehicles before, could manufacture a luxury marque. Seres' success faces some challenges, however. The luxury car market in China experienced a 23 per cent decline in 2024, ThinkerCar data show, impacted by the nation's economic slowdown and weak consumer sentiment. There's also the ongoing price war. The sticker price for most of the 2025 refreshes of the M9 was cut by between 10,000 yuan and 20,000 yuan and Aito is starting to fall behind. In January and February, Mercedes delivered 22,160 vehicles and BMW, 18,130, to overtake Aito at 17,190 units, according to ThinkerCar. Seres' overall sales also slumped in the first quarter, falling by 42 per cent. A more unique hurdle to Seres lies in its tie-up with Huawei. The technology giant is setting up similar in-car software deals with other manufacturers. It's launched EV ventures such as Luxeed with Chery Automobile, and Stelato, with Baic Motor, which also target the high-end market. That's led to concerns around homogenisation and cannibalisation. Even some of Seres' European competitors, such as BMW, have teamed up with Huawei to offer intelligent features in their vehicles. Richard Yu, who oversees Huawei's consumer business group, is sanguine, saying the Aito premium brand has had its share of setbacks in its short life. 'It's hard work every time we build a brand, especially luxury brands,' Yu said at a product launch last September. 'But we won't give up and will keep persisting,' he said, adding that Huawei is determined to make a success out of every automotive brand it launches with partners, not just Aito. BLOOMBERG
Bloomberg
19-05-2025
- Automotive
- Bloomberg
China's Luxury Car Brand That's Come From Behind to Overtake BMW
In under four years, Seres Group Co., a small Chinese automaker once best known for its 30,000 yuan ($4,200) minivans, has beaten luxury legacy names like BMW and Mercedes to become the nation's hottest high-end car seller. Formerly called DFSK Motor, Seres partnered with telecommunications giant Huawei Technologies Co. back in 2021 to launch the Aito brand of premium electric and hybrid sport utility vehicles. Since then, Seres has had a dizzying rise. Sales tripled in three years to around 427,000 vehicles in 2024, while the company's Shanghai-listed stock is up 120%.
