With the launch of their joint venture, Luxeed, Chery Automobile and Huawei Technologies are prepared to shake up the electric vehicle (EV) market. The S7 Electric Car, the company’s debut product, will go on sale in China in November. The twist, though, is that it seeks to surpass the well-liked Model S from Tesla as well as to compete with it.
Richard Yu Chengdong from Huawei has spoken out about the S7’s potential even though its specific specifications are still under wraps. The S7 Electric Car appears to be positioning itself as the go-to EV for tech enthusiasts in an effort to appeal to China’s growing middle class, which has demonstrated a preference for contemporary digital features like voice controls and self-driving technology.
The marriage of Huawei’s technological prowess and Chery’s automotive expertise is what distinguishes Luxeed. With a 17% increase in EV deliveries the previous year, Chery is already on the rise and brings manufacturing clout to the table. After struggling with U.S. sanctions, Huawei is diversifying its portfolio by making a foray into electric vehicles. Launched last year, its Huawei HI system offers cutting-edge computing and self-driving capabilities.
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The Luxeed brand, which gains from both Chery’s manufacturing prowess and Huawei’s technological innovation, is “more than the sum of its parts,” according to Gao Shen, an independent analyst. The Luxeed S7 has its work cut out for it as the Chinese EV market is predicted to grow by an astounding 55% this year.
Local brands like Nio, Li Auto, and Xpeng are gaining ground on Tesla’s premium EV hegemony in the booming Chinese EV market. However, Luxeed’s S7 Electric Car which benefits from its dual parentage to offer something that is both technologically cutting-edge and locally rooted could be the wildcard entry that upsets the status quo. If the consumer base will accept this in the future, only time will tell.
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