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New Delhi. German companies have dominated the world of luxury cars. But, now a small Chinese company Seris (Seres) has dusted veteran companies like BMW and Mercedes in the Chinese market. Seris has now become China’s largest luxury electric car manufacturer. It not only surpassed legendary companies like BMW and Mercedes, but has emerged as a new trendsetter in the high-end segment. The special thing is that till four years ago, this company used to make minivan worth 30,000 yuan (₹ 4.2 lakh).
Earlier Seris was known as DFSK Motor. In 2021, Seris joined hands with Huawei Technologies and launched the Aito brand. It is a premium electric and hybrid SUV. People liked it very much. Just what was it again, Seris’s luck turned. In three years, the company’s sales increased three times to 4.27 lakh units in 2024 and the company’s shares jumped 120%.
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M9 SUV model becomes gamechanger
According to a Bloomberg report, Aito’s M9 model game proved to be a changer. Launched in December 2023, this SUV was so fast that in 2024, the best -selling car became the best -selling car in the category above 500,000 yuan (₹ 58 lakh). Its characteristics are also not less than a smartphone. It has Huawei’s Harmonyos, three-screen dashboard, dual-zone refrigerator, and great ambient lighting. According to data from Shanghai Based Thinkercar, this model delivered 1.51 lakh units in 2024 and that too in less than a year.
Luxury does not just mean German
Seris S. Chairman Zhang Jinghai said at the Shanghai Auto Show, “Aito’s models are changing the definition of Chinese’s luxury car market. This brand is a living example of market and customers’ choice.” The company has also introduced another model Aito M8 this year, which is slightly compact with M9 but not behind in the features.
The foundation of German companies in the EV world shake
Till now it was believed that companies like BMW and Mercedes are strong in the luxury segment and EV manufacturers would be limited to mid-segments only. But Aito broke this myth. Now Chinese consumers are also keeping technology and comfort above the brand name. People laughed when smartphone brands like Huawei and Xiaomi entered EV. Today Huawei’s Aito is running and Xiaomi’s SU7 sedan is also getting tremendous response in the market.
The challenge is also no less
While Seris has tasted success, there is no shortage of challenges. In 2024, China’s luxury car market has shrunk to 23%. At the same time, due to rising competition and price war, Aito has had to cut the price of M9 2025 models by 10,000–20,000 yuan. In January-February 2024, AITO sales fell to 17,190 units, while Mercedes won by selling 22,160 and BMW again by selling 18,130 units. Overall, the first quarter sales of Seres declined by 42%.
While Seris has a partnership with Huawei, now this partnership is becoming a challenge. Huawei is now making EV with other brands like Cherry and BAIC. This threatens seres in terms of ‘brand identity’ and ‘market share’.
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