Rise of Seres: A Chinese Luxury Carmaker
In a remarkable turn of events, Seres Group Co., a relatively small Chinese automaker, has surpassed established luxury brands like BMW and Mercedes to become China’s top high-end car seller in under four years. Formerly known as DFSK Motor, Seres made a strategic partnership with telecommunications giant Huawei Technologies Co. in 2021 to launch the Aito brand, focusing on premium electric and hybrid sport utility vehicles (SUVs).
This collaboration marked the beginning of Seres’ meteoric rise in the luxury automotive market. The company’s sales tripled over three years, reaching approximately 427,000 vehicles in 2024. Additionally, Seres’ stock, listed in Shanghai, saw a significant surge of 120%. The Aito brand has been instrumental in this success, offering high-end electric and hybrid SUVs that have captured the Chinese market.
Seres’ transformation from a company known for its affordable 30,000 yuan ($4,200) minivans to a luxury car seller is a testament to its strategic partnership with Huawei and its focus on premium electric and hybrid vehicles. The company’s rapid growth highlights the evolving landscape of the global automotive industry, with Chinese manufacturers increasingly playing a significant role in the luxury segment.
