Huawei Car Business Revenue Doubles to $1.4 Billion in H1 2024
Huawei’s automotive business unit has reported a significant financial surge, with revenue more than doubling to nearly RMB 10 billion ($1.38 billion) in the first half of 2024. This figure represents a substantial increase from the total RMB 4.7 billion recorded for the entire previous year. The growth is primarily driven by robust demand for electric vehicles (EVs) produced in partnership with other manufacturers, specifically highlighting the success of the Aito brand. Co-developed with manufacturing partner Seres, Aito EVs have seen a dramatic rise in deliveries. Seres reported selling approximately 194,200 new energy vehicles, including all-electrics and plug-in hybrids, in the first six months of 2024, surpassing its full-year 2023 total of 151,798 units. Furthermore, the Aito M9 luxury SUV has garnered strong market interest, securing over 100,000 non-refundable deposits shortly after its launch. This milestone mirrors the success of the Aito M7 crossover, which achieved similar deposit numbers in late 2023. The data underscores Huawei's expanding influence and commercial success in the smart electric vehicle sector through its collaborative business model.
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Huawei Car Business Revenue Doubles to $1.4 Billion in H1 2024
Huawei’s automotive business unit has reported a significant financial surge, with revenue more than doubling to nearly RMB 10 billion ($1.38 billion) in the first half of 2024. This figure represents a substantial increase from the total RMB 4.7 billion recorded for the entire previous year. The growth is primarily driven by robust demand for electric vehicles (EVs) produced in partnership with other manufacturers, specifically highlighting the success of the Aito brand. Co-developed with manufacturing partner Seres, Aito EVs have seen a dramatic rise in deliveries. Seres reported selling approximately 194,200 new energy vehicles, including all-electrics and plug-in hybrids, in the first six months of 2024, surpassing its full-year 2023 total of 151,798 units. Furthermore, the Aito M9 luxury SUV has garnered strong market interest, securing over 100,000 non-refundable deposits shortly after its launch. This milestone mirrors the success of the Aito M7 crossover, which achieved similar deposit numbers in late 2023. The data underscores Huawei's expanding influence and commercial success in the smart electric vehicle sector through its collaborative business model.
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