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Investing.com -- SAIC Motor announced Wednesday that its latest vehicle, the Shangjie H5, developed in partnership with Huawei, will begin accepting orders starting August 25.
The Chinese automaker also revealed the interior design of the new vehicle alongside the announcement. The company did not provide additional details about the car’s specifications or pricing in today’s disclosure.
SAIC’s stock price responded positively to the news, rallying approximately 7% during intraday trading, while the broader Shanghai Composite Index remained flat.
Morgan Stanley (NYSE:MS) analysts noted potential upside to market expectations, suggesting the Shangjie H5 could achieve sales of 5,000 to 10,000 units per month.
The Shangjie H5 represents the latest collaboration between SAIC, one of China’s largest automakers, and technology giant Huawei, as Chinese companies continue to advance in the competitive electric vehicle market.
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