Huawei
Huawei plans to sell AITO EV trademark to SERES for $343 million
Huawei is planning to sell its electric vehicle trademark “AITO” to SERES. The OEM is making this move to serve as a solution supplier in the automobile market and not a competitor. The plan is in consideration and could come into action later this year.
SERES – the Chinese automobile company said that it will pay $343 million to its partner – Huawei for purchasing the AITO trademark. Apart from the logo, the tech giant is also transferring major patents related to the AITO electric vehicle.
The Chinese phone maker stated that the company aims to focus on smart car solutions rather than making cars. Huawei will supply effective services and powerful technologies to its automobile partners to build better cars for consumers.
” Huawei will transfer the AITO (Wenjie in Chinese) trademark to SERES and in the meantime, continue to support SERES in building and selling AITO cars.” – says Huawei.
SERES will complete the transaction of 2.5 billion yuan ($343 million) for AITO trademarks and patents by the end of this year. There are around 919 Wenjie text and graphics trademarks (registered or pending) as well as 44 related design patents.
Huawei plans to sell AITO trademark to SERES (Image Credits: ITHome)
In the past few months, Huawei has transferred several trademarks to its respective partners like Chery and BAIC. The aim is to concentrate on developing more efficient smart car solutions and help car makers enhance the overall driving experience.
For the latest deal, SERES says that this trademark transfer won’t ruin the good terms between Huawei and its firm. In fact, it will further deepen their partnership.
Huawei and SERES have been in a long-running partnership since 2021. Both firms jointly launched the AITO brand which soon became a reputed SUV label in the Chinese automobile market. Huawei looked after smart car solutions while SERES handled the manufacturing the production operations.
Inputs say that Huawei’s current move has appeared amid the growing competition in the automobile market. Tech makers like Xiaomi have now jumped into the battlefield with the strategy of ‘price cut’ to allure Chinese consumers.
Perhaps Huawei may continue to transfer its smart car trademarks and related patents to its respective partners in the coming months as well.
Huawei plans to sell AITO trademark to SERES (Image Credits: ITHome)
