Aito, the new energy vehicle (NEV) brand backed by Chinese tech giant Huawei, is set to introduce the M8 model in 2024, expanding its lineup to a minimum of four models, as reported by local media.
According to a report from LatePost, Aito aims to achieve sales of 600,000 units in 2024. The brand recently unveiled its flagship SUV, the M9, following the successful sales of its initial models, the M5 and M7. Aito plans to release and mass-produce the M8 in 2024, with at least four models available for purchase, as outlined in the LatePost report. The brand has already communicated its 2024 sales targets to upstream supply chain manufacturers.
Sales targets for Aito are subject to dynamic adjustments based on internal and external factors. The joint business with Huawei maintains an unchanged goal of reaching sales of 1 million units in 2026, according to a response from Aito’s parent company, Seres Group.
Traditionally, in the fourth quarter of each year, carmakers share their sales plans for the following year with the supply chain. This enables suppliers to make necessary preparations in terms of material, capacity, personnel, and finances.
Aito, a premium car brand launched by Seres with Huawei on December 2, 2021, introduced its first model, the Aito M5, on December 23, 2021, offering both EREV and BEV versions. Subsequent launches included the M7 on July 4, 2022, and a revised M7 version on September 12, featuring a significant price reduction and available exclusively in EREV versions.
The recent launch of the M9, Aito’s flagship SUV, attracted significant interest, with 54,000 pre-orders since pre-sales began on September 25, as stated by Richard Yu, Huawei’s head of automotive business.
On February 25, Seres and Huawei signed a joint business cooperation agreement, aiming to produce and sell over one million NEVs by 2026. According to a report from Cailian, citing sources close to Huawei, Aito is expected to launch the new M5 in the first half of next year, with the M8, positioned between the M7 and M9, slated for the second half of next year.
Aito joins the ranks of brands with ambitious 2024 sales targets, aligning with the broader industry trend. As of November 7, 36kr reported Nio’s 2024 sales forecast at over 230,000 units, Xpeng at more than 280,000 units, and Li Auto at more than 800,000 units. Notably, these forecasts exclude certain sub-brands, emphasizing the practice where automakers provide optimistic projections while supply chain partners assess competitiveness and business performance, as observed by the 36kr report.
