Core Viewpoint - GAC and Huawei are deepening their collaboration to launch high-end electric vehicles under the "Qijing" brand, with two models priced around 300,000 yuan set to debut in 2024 [1][3]. Group 1: Collaboration Details - The two new models will include a mid-to-large pure electric sedan launching in Q2 2024 and an SUV in Q3 2024, targeting the 300,000 yuan new energy vehicle market [1][3]. - The partnership aims to leverage "GAC manufacturing + Huawei intelligence" to capture market share in the competitive 300,000 yuan segment [3][5]. - GAC and Huawei had previously initiated the AH8 project in 2021 but shifted to a supplier relationship in March 2023 before re-establishing their collaboration [3][5]. Group 2: Strategic Developments - In November 2022, GAC and Huawei signed a strategic cooperation agreement to develop smart vehicles, focusing on product development, marketing, and ecosystem services [5][6]. - GAC announced a 1.5 billion yuan investment to establish the GH project company for deeper collaboration with Huawei, which has since integrated its teams with GAC for product development [5][8]. - The newly formed Huawang Automotive will serve as the platform for the Qijing brand, with a focus on independent sales channels rather than Huawei's retail stores [6][8]. Group 3: Market Positioning and Challenges - The collaboration is seen as a response to GAC's need for transformation amid declining sales and performance pressures, initiating a three-year "Panyu Action" plan [4][5]. - The 300,000 yuan price segment is highly competitive, with significant players like Tesla and Li Auto already established, and new entrants expected to emerge [9][10]. - GAC's new brand faces challenges, including the need for independent dealership channels and the impact of upcoming changes in government subsidy policies for electric vehicles priced above 300,000 yuan [9][10].

Group 1 - GAC and Huawei are accelerating their collaboration with a new brand "Qijing" set to launch two high-end models priced around 300,000 yuan, with a mid-large pure electric sedan debuting in Q2 2024 and an SUV in Q3 2024 [2] - The partnership aims to leverage "GAC manufacturing + Huawei intelligence" to capture a share of the 300,000 yuan new energy vehicle market [2] - After a previous attempt to develop a mid-large pure electric SUV was halted in 2023, GAC shifted to independent development while Huawei took on a supplier role [2][3] Group 2 - GAC is undergoing a transformation due to sales and performance pressures, initiating a three-year "Panyu Action" in 2024 to adapt to industry changes [3] - A strategic cooperation agreement was signed between GAC and Huawei in November 2022, focusing on deep collaboration in smart vehicle product development, marketing, and ecosystem services [3][4] - The establishment of Huawang Automotive Technology (Guangzhou) Co., Ltd. marks the formal launch of the GH project company, under which the "Qijing" brand operates [4] Group 3 - The collaboration model between GAC and Huawei is unique, combining elements of the HI model and the smart selection car model, ensuring Huawei's influence throughout the product lifecycle while maintaining GAC's brand independence [5] - GAC Aion plans to invest 600 million yuan into Huawang Automotive, which will utilize Aion's production capacity for vehicle manufacturing [5][6] Group 4 - Huawang is enhancing its channel development with a "40-city blitz" strategy, establishing user centers and experience centers in key cities across China [6] - Despite signing 40 city dealers, the actual progress in store openings is slow, with some dealers expressing hesitation due to the need for separate channels and high investment requirements [7] Group 5 - The 300,000 yuan price segment is becoming increasingly competitive, with several models like Tesla Model Y and Li Auto L6 achieving significant sales [8] - Upcoming changes in government subsidy policies for new energy vehicles priced above 300,000 yuan may increase purchase costs, presenting challenges for Huawang [8]