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Huawei sells "AITO" trademark to its EV partner Seres for $343M

Post Time:2024-07-04 Source: CIPToday Author: Views:

Huawei has transferred its "AITO" trademarks to its electric vehicle (EV) partner Seres for 2.5 billion yuan ($343.81 million). This latest move highlights Huawei’s strategy to solidify its role as a technology supplier in the automotive industry, rather than a direct competitor.

Seres, which disclosed the transaction on Tuesday, will acquire 919 registered or pending global "AITO" trademarks and 44 related design patents from Huawei and its affiliates. The payment is expected to be completed by the end of 2024.

"Huawei always insists on not building cars but leveraging its leading intelligent connected vehicle technology to help car companies build and sell quality vehicles. Huawei will continue to collaborate with car companies to create excellent smart car products and provide an ultimate intelligent travel experience," the company said in a statement.

This transfer follows Huawei's previous sales of the "Luxeed" and "Stelato" trademarks to other EV manufacturers, reinforcing its focus on providing systems and know-how to the automotive sector.

"This transaction will not affect the joint business operations of Seres and Huawei, and we will further deepen our cooperation," Seres stated.

The collaboration between Huawei and Seres began in 2021, resulting in the co-development of the "AITO" brand and the launch of models such as the AITO M5, M7, and M9. In June, the AITO series achieved a record delivery volume of 42,800 units.

Huawei’s strategy to distance itself from direct auto manufacturing comes as competition intensifies in China’s EV market, with new players like Xiaomi entering the fray.