Seres, the Chinese automaker that built its Aito brand alongside Huawei, reported a 41.7% revenue drop in the third quarter but swung back to a 1.42 billion yuan net profit. The numbers show how hard it is to decouple from a powerful technology partner.
Seres and Huawei's AITO brand says its new M8 SUV will ship with an L3-ready autonomous driving architecture and Huawei's ADS 5 system as standard. Pre-sales open September 30, with the brand stressing it remains part of the HIMA alliance.
Huawei founder Ren Zhengfei told Dongfeng executives the company will keep helping automakers build smarter cars rather than making its own, while Huawei's car chief said the Aito partnership with Seres is being adjusted at Seres' request.
A busy week in China's car market brought nine new model launches, a major restructuring between two state-owned automakers, and a shift in the Huawei-Seres partnership, signaling intensifying competition and consolidation.
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