Huawei and JAC working on million yuan MPV vehicle, it’s like Huawei P/Mate series of automotive market

Huawei and China’s top car maker – JAC are working together on a million yuan MPV vehicle, reveals well-known analyst Ming-Chi Kuo.

Kuo said that Huawei and Jianghuai Automobile Group Corp (JAC) are jointly developing the MPV with a price tag of nearly one million RMB. It is expected to enter mass production in 2Q24, with a shipment target of about 50,000 units one year after launch.

Revealing more on this matter, Kuo added that MPV market is similar to the high-end position of Huawei’s P/Mate series in the smartphone market. Thus, the category aims to satisfy the needs of high-end users and enhance brand value along with technological innovation. That analyst believes that this release will help JAC to find growth in revenue by at least 20-30%.

JAC’s existing product lines (commercial vehicles, etc.) are expected to achieve QoQ/HoH and YoY shipment growth in 3Q23/2H23. It is worth noting that JAC’s key customer, NIO, is expected to achieve about 100% HoH growth in shipments in 2H23, which will be a critical growth driver for JAC in 2H23.

Response:

Reacting to this subject, both Huawei and Jianghuai responded to the matter. Huawei said it would not comment, and relevant personnel from Jianghuai Automobile responded: “No relevant notice has been received.”

It’s not the first time that JAC and Huawei’s partnership came into the report. Yu Chengdong, CEO of Huawei Smart Car Solution BU loud in April about a possible partnership between these two companies.

Since the beginning, Huawei has come into the Automotive industry as an intelligent car solution seller. The firm also sells services for these solutions as well as management guidance.

But the company and all of its top officials have cleared that it doesn’t want to build cars alone.

(source)