Huawei-Backed Aito Sees Strong Demand for Revamped M7 EV
Aito, the Huawei-backed electric vehicle (EV) brand, has received more than 50,000 orders for its revamped M7 model within the first 25 days since it went on sale. The orders, which require a non-refundable deposit, would put Aito among China's top-selling new energy vehicle manufacturers.
The Aito brand, which Huawei makes in partnership with Seres Group, launched the M7 in July last year. However, sales were slow, with Aito shipping just 27,405 of the original M7 by June.
The revamped M7, which was launched last month, features a new five-seater version and a lower starting price point than the original. It also carries Huawei branding, but Huawei has repeatedly said it does not make cars on its own but only helps other automakers make better vehicles.
Huawei is also expected to launch an S7 sedan with Chinese automaker Chery under a new marquee, Luxeed, next month, which Yu said would be superior to Tesla's Model S. It will also roll out another model under the Aito brand, a M9 sports-utility vehicle, in December.
Huawei's intelligent automotive solution business brought in one billion yuan revenue in the first half of this year, a tiny fraction of the 310.9 billion yuan ($42.63 billion) its total business earned over that period.
However, the strong sales of the revamped M7 suggest that Huawei's automotive business is gaining momentum. The company is hoping to build a strong presence in the EV market, which is expected to grow rapidly in the coming years.