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Huawei says Chery's Luxeed S7 delays will be fixed in April

People visit the Huawei pavilion at the 2024 Mobile World Congress (MWC) in Barcelona, Spain February 27, 2024

SHANGHAI, March 16 (mod1s) - Huawei claimed that a scarcity of semiconductors and plant relocation concerns that have delayed production and delivery of its Luxeed S7 vehicle should be rectified starting next month, local media source Cailianshe reported on Saturday. 

It cited Huawei managing director and chairman of its smart automotive solutions, Richard Yu, who was speaking about the concerns surrounding Chery's (CHERY.UL) Luxeed S7 sedan at an annual meeting sponsored by the EV100 think tank.

Reuters reported in January that Chinese manufacturer Chery and another Huawei partner, Changan Auto (000625.SZ), opens new tab, had raised concerns with Huawei about how manufacturing troubles with a computer unit the tech giant built had caused delays to delivery of their flagship model. 

The Luxeed S7 sedan - the debut model for Chery's Luxeed EV brand - has orders of roughly 20,000 as of Nov. 28. Luxeed claimed in January that purchasers might be refunded by up to 10,000 yuan if they were unable to pick up the automobile as promised. The S7 is priced from 249,800 yuan ($34,716.62).

The brand was just debuted in November and had been greatly promoted by Huawei with Yu earlier predicting the S7 will surpass Tesla's premium Model S in performance and at a price lower than the Model 3. 

Yu also told the EV100 meeting that its automobiles business segment will likely make a profit from April after losing billions of yuan in the last year, thanks to robust sales of mid to high-end models made by its partners.

Huawei started its smart car branch in 2019 with the intention that it might become the equivalent of German automotive supplier Bosch of the intelligent electric vehicle (EV) age and sell software and components to partners. 

But it is the only money-losing subsidiary among Huawei's core six and brought in just one billion yuan revenue in the first half of 2023, a fraction of the company's 310.9 billion yuan total.

Last year, Huawei stated that it will spin the operation off into a separate company which would get the firm's key technology and resources and accept investment from partners such as carmaker Changan.
($1 = 7.1954 Chinese yuan renminbi)


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