SAIC Motor (SHA:600104) joined forces with Huawei Technologies to develop smart electric vehicles under a new brand, Shangjie, The South China Morning Post Wednesday.
The first model, an SUV priced from 170,000 yuan featuring Huawei's autonomous driving and in-car entertainment systems, will debut this autumn, according to the report.
SAIC, which saw six straight years of declining sales, is betting on Huawei's technology to compete with Tesla and other domestic rivals, the SCMP wrote.
Shares of the carmaker closed 1% lower Friday.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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