SHENZHEN's Huawei Technologies is selling the trademarks and patents of Aito, the premium electric vehicle (EV) brand it developed with Chinese carmaker Seres Group, reports Caixin.
Seres Group subsidiary Seres Auto is planning to spend CNY2.5 billion (US$343.7 million) acquiring 919 registered or pending trademarks of Aito-related characters and graphics, as well as 44 exterior design patents held by Huawei, according to a stock exchange filing.
The deal signals Huawei's intention to reduce its direct control over the Aito brand, analysts said, as the company focuses more on expanding its Harmony Intelligent Mobility Alliance - formerly called Huawei Smart Selection - to emphasise its role as a supplier of smart driving technologies rather than an auto manufacturer.
Huawei told Caixin it will 'continue to support Seres in building and selling Aito cars,' and rather than making its own cars, the company said it remains committed to the strategy of helping its auto partners build vehicles with its 'leading smart connected car technologies.'
SeaNews Turkey
Seres Group subsidiary Seres Auto is planning to spend CNY2.5 billion (US$343.7 million) acquiring 919 registered or pending trademarks of Aito-related characters and graphics, as well as 44 exterior design patents held by Huawei, according to a stock exchange filing.
The deal signals Huawei's intention to reduce its direct control over the Aito brand, analysts said, as the company focuses more on expanding its Harmony Intelligent Mobility Alliance - formerly called Huawei Smart Selection - to emphasise its role as a supplier of smart driving technologies rather than an auto manufacturer.
Huawei told Caixin it will 'continue to support Seres in building and selling Aito cars,' and rather than making its own cars, the company said it remains committed to the strategy of helping its auto partners build vehicles with its 'leading smart connected car technologies.'
SeaNews Turkey
