FOTON(SH:600166) Jing Ji Guan Cha Wang·2025-09-17 04:19Core Viewpoint - Huawei and BAIC Group have launched the Xiangjie S9T, the first travel car under the HarmonyOS Intelligent Driving brand, with starting prices of 309,800 yuan for the range-extended version and 329,800 yuan for the pure electric version [2] Group 1: Product Launch and Features - The Xiangjie S9T is equipped with advanced technologies including Huawei's ADS4 autonomous driving, the new Tuling platform, smart electric doors, high-definition projection headlights, comprehensive collision avoidance, and a health cabin system [2] - The vehicle is positioned as a luxury travel car, aiming to lead the intelligent transformation of the travel car market in China [4] Group 2: Market Context and Challenges - Travel cars are not mainstream in the Chinese market, with consumers preferring sedans, SUVs, and MPVs, leading to limited demand for this segment [4] - The market for travel cars remains small, with only a few competitors like Zeekr 001 and NIO ET5 currently available [4] Group 3: Strategic Partnership and Investment - BAIC and Huawei have upgraded their collaboration to a strategic community, focusing on organizational restructuring and resource sharing across five key areas [4] - BAIC Group plans to invest 20 billion yuan over the next three years to develop the Xiangjie brand, indicating strong confidence in its market potential [6] Group 4: Sales Performance and Future Outlook - As of September 16, HarmonyOS Intelligent Driving has delivered a total of 930,000 vehicles, maintaining the highest average transaction price among Chinese automotive brands for 14 consecutive months [8] - The launch of the Xiangjie brand is expected to contribute to reaching a cumulative sales target of one million vehicles [8]