Seres delivers 17,906 vehicles in January

Chinese carmaker Seres said on Tuesday that it delivered 17,906 NEVs in January, of which around 70 percent were its flagship AITO M9 SUVs.

That means the model has maintained its position as the top-selling car priced over 500,000 yuan ($68,656) in China for 10 months in a row, further solidifying its dominance in the high-end market.

Since its debut at the end of 2021, AITO, codeveloped by Seres and Huawei, has rapidly gained popularity, with over 500,000 vehicles delivered in just over three years.

Last year, AITO ranked first among Chinese brands in terms of transaction prices, with the average price of its vehicles hitting over 400,000 yuan. It stood in the fourth place in China if international brands were included, coming after Land Rover, Porsche and Mercedes-Benz.

Seres also revealed its 2024 financial forecast, highlighting strong growth driven by technological innovation and rising product sales.

The company expects its revenue to reach between 144.2 billion and 146.7 billion yuan, marking a year-on-year increase of 302.32 percent to 309.30 percent.

The net profit attributable to the company's shareholders is expected to range between 5.5 billion and 6 billion yuan, exceeding its annual operational targets.