- The Shangjie H5, with a pre-sales starting price of RMB 169,800 ($23,730), is the most affordable model under Huawei's HIMA business.
- The vehicle received over 25,000 pre-orders within the first hour of its pre-sale launch.
Shangjie, the new automotive brand jointly developed by Huawei and SAIC Motor (SHA: 600104), has seen a promising start with its debut model, the H5 SUV (sport utility vehicle).
Within the first 18 hours of pre-sales, the Shangjie H5 secured over 50,000 pre-orders, the brand announced yesterday on Weibo.
Shangjie began pre-sales for the H5 on August 25, with a starting price range of RMB 169,800 ($23,730) to RMB 209,800, becoming the most affordable model under Huawei's HIMA (Harmony Intelligent Mobility Alliance) business.
The model will be officially launched on September 23, featuring Huawei's ADS 4 advanced driving assistance system -- the most affordable vehicle equipped with this system.
Shortly after pre-sales commenced, Shangjie announced on Weibo that the H5 secured over 25,000 pre-orders within the first hour.
Pre-orders during this phase are typically fully refundable at any time.
Shangjie offers tiered additional discounts for H5 pre-orders: RMB 1,000 off when pre-orders exceed 50,000 units, RMB 2,000 for pre-orders exceeding 100,000 units, and RMB 3,000 for pre-orders exceeding 150,000 units.
Shangjie is one of five automotive brands under Huawei's HIMA umbrella, alongside Seres Group's Aito, Chery's Luxeed, Anhui Jianghuai Automobile Group (JAC)'s Maextro, and BAIC's Stelato.
Shangjie aims for monthly sales of 20,000 units for the H5 and has released a procurement plan for 400,000 units annually to its supply chain based on future model planning, local media outlet 36kr reported yesterday.
The Shangjie brand will launch two new models next year: a sedan and an SUV., with the SUV scheduled for launch in the first half of the year, according to the report.
SAIC has built a dedicated factory for Shangjie in Shanghai's Lingang area and has also taken over part of the production lines at SAIC-GM's Jinqiao plant in Shanghai, according to the report.
($1 = RMB 7.1544)
