- Maextro's second and third products are being developed at a faster pace, JAC said.
- One of these is the Maextro S600, which is smaller in size than the Maextro S800, according to a local media report.
Maextro, the luxury brand jointly developed by Huawei and Anhui Jianghuai Automobile Group (JAC), is developing two new models following the launch of its first model, the Maextro S800, last month.
Maextro's second and third products are currently in accelerated development, JAC announced today on Weibo.
The Maextro S800 began mass production on June 18 and received over 5,000 firm orders within 19 days of its launch, according to JAC.
JAC did not provide further details about the new Maextro models, but according to a report by the local media outlet National Business Daily, one of them is the Maextro S600, which is smaller than the Maextro S800.
The Maextro S800 was officially launched on May 30 with a starting price of RMB 708,000 ($98,500), targeting the luxury sedan market dominated by German luxury brands, particularly Mercedes-Maybach.
The model is a large sedan with dimensions of 5,480 mm in length, 2,000 mm in width, and 1,536 mm in height, with a wheelbase of 3,370 mm.
Maextro offers the S800 in battery electric vehicle (BEV) and extended-range electric vehicle (EREV) variants, as well as four-seat and five-seat versions.
Maextro is offering a limited-edition pioneer version of the model, with deliveries set to begin on June 26. The standard version will begin volume deliveries in mid-August.
By September, Maextro aims to achieve a monthly production capacity of 3,000 units for the S800, with the goal of reaching 4,000 units per month by year-end, Li Ming, General Manager of JAC said previously.
Maextro is one of the new brands jointly developed by Huawei and a domestic automaker, and it is the highest-tier brand under Huawei's HIMA (Harmony Intelligent Mobility Alliance) umbrella.
Other brands under the HIMA business include BAIC Group's Stelato, Seres Group's Aito, Chery's Luxeed, and SAIC Motor's Shangjie.
The Maextro S800 is one of the few luxury sedans launched by a Chinese domestic brand. Other models in this market include Nio's (NYSE: NIO) ET9 and BYD's (HKG: 1211, OTCMKTS: BYDDY) ultra-luxury sub-brand Yangwang's U7.
The market size for passenger vehicles priced above RMB 600,000 in China is about 410,000 to 480,000 units annually between 2020 and 2024, according to a report by the National Business Daily.
Based on an annual sales volume of 450,000 units in this market, Maextro is expected to secure a 20 percent share, translating to annual sales of 80,000 to 100,000 units, according to the report, which cited analysis from CITIC Securities.
($1 = RMB 7.1879)
