Guan Cha Zhe Wang·2025-09-19 04:24Core Insights - GAC Group and Huawei jointly launched a high-end smart electric vehicle brand "Qijing" on September 19, marking a strategic collaboration to leverage each other's strengths in technology and manufacturing [1][3]. Group 1: Company Collaboration - The Qijing brand will feature Huawei's advanced intelligent technologies, focusing on areas such as assisted driving, smart cockpit, user ecosystem, and brand marketing, combined with GAC's expertise in electric vehicle technology and manufacturing [1][3]. - GAC has established a new company, Huawang Automotive Technology (Guangzhou) Co., Ltd., to facilitate this collaboration, with the first product positioned as a luxury smart electric vehicle priced around 300,000 yuan [4][5]. Group 2: Market Context - GAC Aion, the main brand for GAC's new energy vehicles, experienced a peak sales volume of 480,000 units in 2023 but faced a decline in 2024, with sales dropping to 375,000 units, a year-on-year decrease of 21.2% [3]. - GAC Group's overall revenue for the first half of the year was 42.166 billion yuan, a decline of 7.95% year-on-year, with a net loss of 2.538 billion yuan compared to a profit of 1.516 billion yuan in the same period last year [3].