Automobile giant SAIC Motor (SHA:600104) partnered with tech giant Huawei Technologies to roll out budget-friendly electric vehicle brand Shangjie, YiCai Global reported Monday.
The brand will be distributed under the Harmony Intelligent Mobility Alliance, with the first model, ES39, expected to hit the market in the fourth quarter, according to the report.
Industry insiders said this move will strengthen SAIC's position in the EV market and expand Huawei's reach in the mainstream segment, YiCai Global wrote.
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