SAIC Motor, Huawei to Partner on New EV Brand

Dow Jones2025-02-21

By Jiahui Huang

Chinese state-owned automaker SAIC Motor and consumer-electronics giant Huawei will partner on building a new electric-vehicle brand, as competition in China's overcrowded EV market continues to heat up.

Shanghai-based SAIC, one of four big state-run carmakers in China, said Friday that it has signed a memorandum of understanding with Huawei to set up a new EV brand. The two companies will work together in areas including product design, production, supply-chain management and sales, it said.

Huawei has existing partnerships with other automakers including Chery Automobile, BAIC Motor and Seres Group to develop different EV and hybrid auto brands.

Consolidation has picked up in China's EV industry as competition among major players has accelerated, with autonomous-driving technology becoming more accessible and less costly.

Two other state-owned auto companies, Chongqing Changan Automobile and Dongfeng Motor, said separately earlier in February that they are planning a restructuring with another state-owned enterprise without naming the entity. That sparked speculation of a potential merger between the two companies.

Write to Jiahui Huang at jiahui.huang@wsj.com

(END) Dow Jones Newswires

February 21, 2025 03:22 ET (08:22 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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