China’s Chery, Huawei slash prices of first electric sedan due to delays

mobility new energy vehicles electric vehicles EV huawei chery luxeed s7 tesla model s

Several Luxeed S7 are displayed at the venue during a press conference in Shanghai on Nov. 28, 2023, which has a price range of between RMB 249,800 and RMB 349,800 ($34,921-$48,904). Richard Yu, Huawei’s head of consumer business group, said the company has secured 20,000 refundable orders since pre-sale started on Nov. 9. Credit: Huawei/Chery

Huawei has slashed the prices of its Luxeed S7 electric sedan by as much as 7% only five months after the launch of the first joint model with partner Chery Auto, as the Chinese technology giant looks to lure back customers following delivery delays. The existing premium versions of the S7 will cost consumers RMB 20,000 less, giving them a price tag of between RMB 269,800 and RMB 329,800 ($37,279 and $45,569). The entry-level model’s price remains unchanged at RMB 249,800 with the driving range improved by 28% to 705 kilometers (438 miles). The companies have also introduced a new top-end car with a range of 751 km on a single charge, priced at RMB 349,800. The news comes after long-time rival Xiaomi has continued to garner attention with its first EV model at the competitive starting price of RMB 215,900. The model secured almost 89,000 reservations in the first 24 hours after its launch on March 28. During a press conference on Thursday, Huawei and Chery said they were now ready to begin vehicle delivery at scale, after customers voiced frustrations over unexplained and months-long delivery delays caused by a challenging production ramp-up process early this year. [TechNode reporting]

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