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Seres Group
Seres Group, led by founder Zhang Xinghai, builds Huawei-co-developed AITO electric SUVs from its Chongqing manufacturing base.
Seres Group
Seres Group was founded in 2016 as a spinout from the Sokon industrial group, itself established by Zhang Xinghai in 1986 as a shock-absorber and spring maker before expanding into minivans and motorcycles. The restructuring elevated the electric-vehicle unit into a standalone listed entity, leaving legacy internal-combustion assets with the parent. Zhang remains the controlling shareholder across both entities. Seres now functions as the group's sole platform for new-energy vehicles, operating a flagship intelligent-manufacturing campus in Chongqing's Liangjiang New Area. The company operates across three asset-class pillars: in-house EV platforms, a strategic technology-licensing arrangement with Huawei, and a captive mobility-services arm. The Huawei collaboration covers the full AITO line — the M5, M7, and M9 SUVs — which combine Seres-built chassis and powertrains with Huawei's HarmonyOS cockpit, autonomous-driving stack, and nationwide retail distribution. Confirmed vehicle programs include the AITO M9 luxury SUV, which shipped over 150,000 units in its first full year (per company production reports, 2024). Manufacturing is concentrated in Chongqing, with additional R&D centers in the United States, Germany, and Japan. Seres produces roughly 400,000 vehicles annually across its Chongqing assembly facilities. The firm raised approximately $900 million combined through an A-share private placement and secondary selldowns between 2022 and 2023 (per regulatory filings reviewed by Reuters, 2023), and booked net income exceeding RMB 5 billion in the first three quarters of 2024 after several loss-making years. In May 2025, the company launched the AITO M8, extending the lineup into the mid-size premium crossover segment to cover a price band from RMB 300,000 to 600,000. The structural differentiator is Seres's position as Huawei's dominant automotive manufacturing partner — an arrangement that blurs the line between contract manufacturer and proprietary OEM. Unlike other Huawei collaborations, Seres holds full operational control over vehicle production while Huawei provides the technology stack, sales network, and brand strategy. This model transfers software and retail economics to the tech partner, leaving Seres to compete on manufacturing scale and capital efficiency in a sector where most rivals attempt to own the full vertical stack.
General information
Firm type
Asset Manager
Year founded
2016
AUM
Undisclosed
Location
Region
Asia
Country
China
City
Chongqing
Corporate office
Chongqing, China
Principals
Zhang Xinghai
Founder and Chairman
Sector focus
Frequently asked questions
What is the relationship between Seres and Huawei?
Seres manufactures the vehicles and owns the AITO brand, while Huawei provides the electric drivetrain components, HarmonyOS smart cockpit, autonomous-driving software, and retail distribution through its nationwide network of experience stores. The two companies operate under a joint business model rather than a traditional supplier relationship, with Huawei deeply integrated into product definition and Seres retaining full manufacturing ownership and vehicle homologation.
How does Seres generate revenue from the AITO lineup?
Seres books the full vehicle sale as revenue under Chinese accounting standards, then pays Huawei a per-vehicle technology licensing and sales-commission fee. The exact fee structure has not been publicly disclosed, but Huawei's intelligent automotive solutions unit generated approximately RMB 2.1 billion in revenue during 2023, with Seres as its largest single counterparty (per Huawei annual report, 2023).
Is Zhang Xinghai still the controlling shareholder?
Yes. Zhang Xinghai controls Seres Group through his stake in the parent company, Chongqing Sokon Industrial Group, which remains the largest shareholder. As of the latest public disclosures, Zhang and entities he controls hold roughly 25-30% of Seres Group's A-shares, giving him effective control of the board and strategic direction.
Does Seres export vehicles outside China?
Seres launched AITO exports to select Middle Eastern and Southeast Asian markets starting in 2024, with initial shipments to the UAE and Thailand. The company has disclosed plans to enter European markets by 2026, though its US R&D center in Michigan has not yet been accompanied by US-market vehicle sales.
Which investment stages does Seres target for its own capital allocation?
Seres allocates capital primarily through internal manufacturing capex and direct R&D investment rather than external fund commitments. The company has not disclosed a corporate venture-capital arm or LP program; its capital deployment is concentrated in production-line expansion, next-generation platform engineering, and battery supply-chain partnerships.
What happened to the Sokon brand name?
The parent group phased out the Sokon automotive brand for passenger vehicles in 2022 when it consolidated all new-energy vehicle activity under the Seres and AITO names. The Sokon name continues to be used for the parent holding company and legacy commercial-vehicle and motorcycle-parts businesses.
How is Seres structurally separated from Huawei's other automotive partnerships?
Huawei maintains distinct collaboration models — component supply, 'HI' deep integration, and the 'Smart Selection' model used exclusively with Seres. Under Smart Selection, Seres is the only partner where Huawei participates in product definition, retail, and after-sales across the full vehicle lifecycle, while Seres retains majority control of the joint commercial company that manages the AITO brand.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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