FOTON(SH:600166) 2 1 Shi Ji Jing Ji Bao Dao·2025-09-17 04:58Core Insights - Huawei's HarmonyOS Automotive has expanded into the niche market of station wagons with the launch of the Xiangjie S9T, priced between 309,800 to 369,800 yuan, achieving over 5,000 pre-orders within the first hour of its release [1][2] Group 1: Product Launch and Market Strategy - The Xiangjie S9T is designed to fill a gap in HarmonyOS Automotive's product lineup, targeting a segment that has not yet fully developed in China, with the only popular model being the NIO ET5T [2][3] - The vehicle features two power options: a range-extended version with battery capacities of 37 kWh and 53.4 kWh, offering a maximum range of 1,305 km, and a pure electric version with a 100 kWh battery, achieving a range of 801 km [5][6] - The launch of the Xiangjie S9T coincides with SAIC Audi's introduction of its first station wagon, indicating a competitive landscape in this niche market [2][3] Group 2: Production and Delivery - The production rate at the Beijing Automotive factory has reached one vehicle every two minutes to ensure timely delivery of the Xiangjie S9T [2] - The vehicle's development faced initial hesitations regarding market positioning, but strong leadership from Huawei's Yu Chengdong ultimately led to its approval [6] Group 3: Strategic Partnerships and Investments - Beijing Automotive plans to invest 20 billion yuan over the next three years to support the Xiangjie brand, focusing on design, intelligent driving, smart cockpit, and quality safety [7][8] - A dedicated team has been established for the Xiangjie brand, integrating Huawei's digital systems across the entire product lifecycle from development to sales [7][8] Group 4: Market Challenges and Opportunities - The station wagon segment in China has historically struggled with consumer perception, often being overshadowed by SUVs and facing higher price points due to import status [3][4] - Despite the challenges, the unique user ecosystem of Huawei may provide a competitive advantage in promoting this non-mainstream vehicle [4]