JAC

Nio said the joint venture was established to support joint production, but with Nio obtaining car-making clearance, there is no longer a need for it to continue.

Nio and JAC's joint venture is being terminated after it obtained independent car manufacturing qualification in December 2023.

Maextro's second and third products are being developed at a faster pace, JAC said.

JAC and Huawei signed a new agreement after their first joint model, the Maextro S800, hit the market.

The Maextro S800, jointly developed by Huawei and JAC, was launched on May 30 with a starting price of RMB 708,000 ($98,360).

The Maextro S800 joins the Nio ET9 and Yangwang U7 as the latest challenger to Mercedes-Maybach in China's luxury sedan market.

The Maextro S800 is expected to be priced between RMB 1 million ($138,650) and RMB 1.5 million, Huawei said previously.

The Maextro S800 is expected to be launched in May, targeting the luxury sedan market in the RMB 1 million ($137,070) class.

The Maextro S800, a model designed on L3 autonomous driving architecture, is set to be launched at the Shenzhen auto show at the end of May.

Maextro's first model, the Maextro S800, began pre-sales in November 2024 and is expected to be priced between RMB 1 million ($137,000) and RMB 1.5 million.