Luxeed, a joint venture between Huawei and Chery, recently signed a new cooperation agreement to take their new car brand to the next level, known as “Phase 2.0.”
The agreement was signed in Shenzhen, where Huawei is headquartered, with top executives from both companies present to witness the signing. Luxeed announced plans to invest over RMB 10 billion ($1.4 billion) and expand its research and development team to 5,000 members to enhance its technological capabilities.
A dedicated new energy vehicle (NEV) company has been established for Luxeed, allowing for independent operations in production, sales, and services. This strategic move aims to improve the overall service experience for customers.
Luxeed is gearing up to launch several new products, diversifying its portfolio and propelling the brand’s long-term growth. The brand introduced its first model, the Luxeed S7 pure electric sedan, in November 2023, followed by the Luxeed R7, the first coupe SUV under Huawei’s HIMA business, in September 2024.
Pre-sales of updated versions of the S7 and R7 are set to begin on August 8, with the official launch slated for September. Additionally, Luxeed is reportedly developing an MPV model, expected to be the first MPV under the HIMA business, based on Chery’s E0X-L platform.
Chery’s commitment to the joint brand has increased, signaling its confidence in Luxeed’s potential. The company has redirected resources from its Exeed Sterra E08 MPV project to support Luxeed’s MPV R&D efforts, further emphasizing its dedication to the partnership.
Luxeed’s upcoming EHV model, scheduled for release in the first half of next year, is anticipated to be a significant addition to the HIMA business. This move aligns with the brand’s vision to expand its product offerings and solidify its position in the market.
In conclusion, Luxeed’s collaboration with Chery and Huawei continues to evolve, with a clear focus on innovation, expansion, and customer satisfaction. The brand’s strategic investments and product developments underscore its commitment to delivering cutting-edge electric vehicles and shaping the future of mobility.
