Huawei unveils one million yuan EV to crack China luxury market

(May 30): Huawei Technologies Co and its automaking partners are pushing further into the luxury end of China’s car market with the launch of the Maextro S800, a sedan with a price tag exceeding the one million yuan (RM589,197) mark. The smartphone maker and Anhui Jianghuai Automobile Group Corp, or JAC, unveiled the vehicle in Shenzhen on Friday. Priced at 1.02 million yuan for its most premium version, the car is designed to go up against top-end models from Mercedes-Benz Group AG and Volkswagen AG’s Bentley. The Maextro S800 offers options seen in higher-end competitor models including a crystal shimmer ceiling — pioneered by Rolls-Royce — that’s meant to look like a starry night sky. The car comes with a triple-screen dashboard and more than 30 sensors that help enable Huawei’s advanced driver-assistance technology. “The Chinese auto industry is advancing towards the top of the world’s value chain,” Richard Yu, Huawei’s consumer business group head, said during the glitzy event that featured an opera performance. Huawei’s venture into the luxury segment with Seres Group Co produced the Aito brand which were the best sellers in the 500,000 yuan and above category in China last year. Huawei’s venture into the luxury segment comes after tasting initial success with another collaboration — the Aito brand produced together with Seres Group Co. Those vehicles were the best sellers in the 500,000 yuan and above category in China last year, beating models from BMW AG and Mercedes. Huawei and its partners are now betting that Chinese luxury consumers are increasingly trading in their gas guzzlers for battery-powered vehicles. The chairman for JAC, Xiang Xingchu, and the founder of battery maker Contemporary Amperex Technology Co Ltd, Robin Zeng, also presented on stage, with Zeng emphasising the safety and convenience of the Maextro’s fast-charging battery. Previewing the car in February, Yu played a video that benchmarked it against the Maybach S680, which can cost over three million yuan. The Maextro’s most basic version starts from 708,000 yuan. BYD, China’s No 1 car brand, recently slashed the prices of some of its models by as much as 34%, forcing a slew of other automakers to follow suit. It has also launched a million-yuan EV range called Yangwang, which includes a Ferrari-like sports car, the U9, that starts from 1.7 million yuan and the luxury sport utility vehicle, the U8, that sells for around 1.1 million yuan. Uploaded by Felyx Teoh