Analysis: Huawei Auto Partners’ Diverging Fortunes Show Limits of Its EV Playbook
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Five automakers co-developing cars with Huawei Technologies Co. Ltd. have reported sharply divergent quarterly results, underscoring the Chinese tech giant’s struggle to replicate the success of its premium electric car brand Aito across other ventures.
Chery Automobile Co. Ltd. performed best, with a net profit of 14.3 billion yuan ($2 billion) in the first three quarters of 2025. Seres Group Co. Ltd. (601127.SH) and SAIC Motor Corp. Ltd. (600104.SH) maintained year-on-year profitability, while BAIC BluePark New Energy Technology Co. Ltd. (600733.SH) and Anhui Jianghuai Automobile Group Corp. Ltd. (JAC) (600418.SH) were mired in losses.
The five automakers work with Huawei under its Harmony Intelligent Mobility Alliance (HIMA), which provides them with smart driving technologies and access to Huawei’s sales channels in exchange for significant influence over vehicle design, development, marketing and sales.
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- Five automakers partnering with Huawei for smart car development under HIMA saw varied results; Chery led with 14.3 billion yuan net profit, Seres posted 5.3 billion yuan, while BAIC BluePark and JAC faced losses.
- Nearly 90% of HIMA’s 1 million cumulative sales came from the Seres-Huawei Aito brand; other co-branded models had limited impact.
- As Huawei expands partnerships, most automakers have yet to see significant gains beyond Seres’ Aito success.
- Chery Automobile Co. Ltd.
- Chery Automobile Co. Ltd. achieved the highest net profit among Huawei's auto partners, reaching 14.3 billion yuan ($2 billion) in the first three quarters of 2025. Its Huawei-linked Luxeed brand sold 7,882 vehicles in September, representing a small portion of the company's total sales of 255,600 units that month.
- Seres Group Co. Ltd.
- Seres Group Co. Ltd. (601127.SH) is a Chongqing-based automaker that partnered with Huawei in April 2021 to launch the Aito brand. Seres is highly dependent on Huawei, and its recent strong performance is attributed to the Aito brand's success. In the first three quarters, Seres sold 304,600 NEVs, booked 110.5 billion yuan in revenue, and maintained year-on-year profitability with 5.3 billion yuan in net profits.
- SAIC Motor Corp. Ltd.
- SAIC Motor Corp. Ltd. (600104.SH) maintained year-on-year profitability. Their third-quarter profit surged 645% to 2.1 billion yuan, attributed to cost controls and market expansion. They have a new brand, Shangjie, developed with Huawei and launched in September, but its initial debut was lackluster.
- BAIC BluePark New Energy Technology Co. Ltd.
- BAIC BluePark New Energy Technology Co. Ltd. (600733.SH) is a Huawei partner. Its premium EV brand, Stelato, co-developed with Huawei, sold approximately 20,000 models, contributing to its total 111,500 new-energy vehicle sales in the first three quarters. The company reported a net loss of 3.4 billion yuan for the nine-month period.
- Anhui Jianghuai Automobile Group Corp. Ltd.
- Anhui Jianghuai Automobile Group Corp. Ltd. (JAC) is one of Huawei's automotive partners. They are co-developing the luxury EV brand Maextro, which began mass deliveries in August. The company reported a net loss of 1.3 billion yuan for the first three quarters, a significant drop from a 6.3-billion-yuan profit in the same period last year. Total vehicle sales were down 10.7% year-on-year.
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