Following similar moves by Tesla China and Huawei-backed AITO, Guangzhou-based electric vehicle firm XPeng has announced a price reduction plan.
The AITO brand built by Huawei and its car-making partner Seres has sold over 10,000 electric vehicles in August, September and October, but Seres is facing some new problems, such as low profitability and an inability to tear down the label of Huawei's foundry.
Henry Xia, President and Co-founder of Chinese electric vehicle maker XPeng, denied rumors on November 6 that the company may be considering adopting an extended-range power system in the future.
With the arrival of the "Double 11 Shopping Festival", many Chinese automobile companies, such as Leapmotor, NETA Auto and AITO, have launched preferential policies with values as high as 13,000 yuan ($1,793) for vehicle purchases.
The M5 and M7 models of AITO, a Chinese automaker established jointly by Huawei and Seres, have undergone price reductions of 8,000 yuan ($1,096). AITO is the first new energy vehicle brand in China to follow in the footsteps of Tesla's latest decision.
AITO, a high-end new energy vehicle brand jointly created by Seres and Huawei, has been the target of consumer complaints over non-refundable deposits.
Huawei Smart Selection partner SERES has kicked off construction of its third factory. The new facility is named "SE Project of Liangjiang New Area," spanning about 700,000 square meters in the southwestern city of Chongqing.
On September 5, the lithium carbonate production agreement between power battery giant CATL and Yongxing Materials, a developer of new materials, was cancelled, and the two sides will seek other ways of working together.
Richard Yu, CEO of Huawei's Consumer BG, released the AITO M5 EV, the first pure electric vehicle model from the AITO brand.
News emerged on August 23 that the cooperative project between Huawei and GAC AION has been suspended, and now the two sides are only involved in parts supply and procurement. AION's spokesperson denied the report.
On August 24, AITO M7 models jointly built by Huawei and Seres started the first batch of delivery in Chongqing and Shenzhen and will be delivered nationwide.
The AITO M5 EV under the AITO banner jointly built by Huawei and Seres will announce its retail price at Huawei's new product launch conference on September 7.