Strategic Partnership to Elevate Luxeed Brand

In a significant move to bolster their joint venture, Huawei Technologies Co., Ltd. and Chery Automobile Co. have inked a groundbreaking cooperation agreement in Shenzhen. This partnership marks the beginning of "Phase 2.0" for their electronic vehicle brand, Luxeed, signaling a new era of innovation and growth in the electric vehicle sector.

Investment and Expansion Plans

The agreement encompasses an investment exceeding RMB 10 billion ($1.4 billion), aimed at establishing a dedicated new energy vehicle (NEV) company. This entity will independently oversee Luxeed's production, sales, and services, ensuring a streamlined and efficient operation. Additionally, Luxeed is set to amplify its research and development efforts by expanding its team to 5,000 members, with plans to introduce new models to the market.

Luxeed's Role in the Harmony Intelligent Mobility Alliance

Since its inception in 2023, Luxeed has been a pivotal part of Huawei's Harmony Intelligent Mobility Alliance (HIMA), alongside other notable brands such as Aito and Stelato. This alliance underscores Huawei's commitment to revolutionizing the mobility landscape through cutting-edge technology and collaborative innovation.