Huawei

Seres said Tuesday that the Seres SF5 will be delivered to their first owners on May 29.

Rumors about tech giant Huawei building cars come out every once in a while. Now the company has reiterated its stance in order to reassure China's increasingly competitive electric car industry.

The two companies have been working together informally on chips for the past few months and they may soon set up a joint venture for chip development, the report said.

Huawei is in close contact with BAIC BluePark New Energy Technology to seek a stake in the latter's EV brand Arcfox, nbd.com.cn said on Wednesday, citing people familiar with the matter.

Arcfox unveiled the Arcfox α-S last month, with the higher-spec version featuring the Huawei Inside solution. Now, according to the latest report, orders for this model have exceeded 1,000 units in only one month.

Huawei Consumer BG CEO Richard Yu has set a goal of selling 300,000 cars next year, and the company plans to sell cars in 200 stores by the end of July, increasing such stores to more than 1,000 by the end of the year, according to Tencent News.

After Huawei shifted its business focus from cell phones to automobiles, Yu is the single most important spokesperson.

Carmaker's cooperation with Huawei is currently being highly watched, as the first model that went on sale in Huawei's channels - the Seres SF5 – has been well received in China.

The expected delivery time for Seres SF5 vehicles sold in Huawei's channels remains unchanged and will still be delivered in bulk in May, thepaper.cn quoted a Huawei source as saying Friday.

The Seres SF5, the first model sold in Huawei's channels, has become so popular in China that it has led to a significant excess of demand over capacity.