Huawei-backed Chinese electric car brand Aito has received more than 50,000 one-way orders for the updated M7 in less than a month. The order follows the September 12 public unveiling of the SUV equipped with Huawei's Harmony operating system and assisted driving technology.
Why it matters: The latest sales figures released by Huawei's chief show the first signs of a revival for the iTo after months of decline, and could boost confidence among Huawei automakers.
- Aito is also encouraged by Huawei's recent return to the smartphone market with the launch of the Mate 60 Pro series after the US banned the Chinese tech giant from exporting its advanced semiconductor technology.
Details: As of Friday, the updated M7 crossover has received more than 50,000 pre-orders with a non-refundable deposit of 5,000 yuan ($685), Richard Yu, managing director of Huawei's consumer business group, said in a statement on Chinese social media. . WeChat app.
- Yu called the growth rate of the new M7 "amazing" and added that more than 10,000 customers placed orders in the past two days. He asked his sales staff to increase supply to meet increased demand (our translation).
- According to data released Saturday by Sun Shaojun, founder of consumer research firm CarFans, orders collected per store have averaged more than 80 since the Sept. 12 launch. In June, Aito said the company has a network of about 1,000 retail stores and services. Centers operate in 230 cities in China.
- An increase in foot traffic to stores selling new Huawei smartphones boosted sales of Chinese maker Ceres' iTo brand of electric vehicles during the recent National Day holiday, Sun added. Huawei will start selling electric cars in 2021 with lesser-known partners through its retail network.
- About 40-50% of M7 buyers are Huawei smartphone users and come to the store to buy the Mate 60 phone, Jefferies analysts wrote on Oct. 5, citing a senior manager at a Chinese car dealer. Buyers compared the six-seater to Lee Auto's L7, BYD's Tang and Ford Edge, analysts said.
Context: On September 12, Huawei launched an updated version of the M7 SUV with Huawei's Harmony operating system at a starting price of 249,800 yuan (US$34,299), about 70,000 yuan less than the original version launched a year ago. .
- The car is equipped with Huawei's latest driver assistance software, ADS 2.0, which will allow it to drive autonomously on busy city streets across the country from December, making it one of China's most ambitious self-driving car suppliers. .
- Huawei has offered potential owners of its new flagship plug-in hybrid smartphone early access to purchase the Mate 60 smartphone. The flagship smartphone Mate 60 Pro will reportedly use its self-developed 5G processor, a breakthrough for the Chinese tech giant after the US ban in 2019.
- Sales of the two-year-old iTo have declined for most of 2023 due to strong competition from more established rivals such as BYD and Tesla. Ceres, which makes electric cars under the Aito brand, recorded sales of around 33,000 units in the first eight months of this year, down 15.6% year-on-year.
- Meanwhile, Huawei has established cooperative relationships with other domestic automakers, including Changan and BAIC. In November, the company plans to partner with automaker Chery to launch the S7, the first sedan under the new Zhijie brand in China, which will compete with the Tesla Model S.
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