Chinese tech company Huawei Technologies has recently kicked off mass deliveries of the Luxeed S7 electric sedan, a product developed in partnership with Chery Auto.
The Luxeed S7, a fruit of Huawei and Chery Auto’s collaboration, has entered mass deliveries, overcoming semiconductor shortages and production hurdles, according to a report by Reuters on Saturday. The report, quoting Richard Yu, managing director and chairman of Huawei’s smart car solutions, highlighted the persistence and dedication of the teams involved despite previous setbacks.
Chery had expressed dissatisfaction with Huawei due to alleged delays in deliveries caused by production issues with the computing unit supplied by the tech giant.
Why Investors Should Take Note: Richard Yu had previously stated that the Luxeed S7, priced at 249,800 yuan ($35,152), would outshine Tesla Inc’s premium Model S sports sedan in various aspects. Notably, the Luxeed S7’s competitive pricing places it within the range of Tesla’s mass-market offering, the Model 3, starting at 245,900 yuan ($34,603).
Despite facing U.S. sanctions, Huawei experienced its fastest revenue growth in four years last year, as pointed out by the Reuters report.