GAC and Huawei Partner on Premium EV Brand as Stock Surges Over 20%

Dec 2, 2024, 01:51 AM

GAC Group and Huawei have announced a strategic partnership to co-develop a new premium smart electric vehicle (EV) brand. This will expand GAC’s portfolio, which already includes Trumpchi, Aion, and Hyptec. Huawei, which has previously collaborated with automakers like Seres, Chery, BAIC, and JAC on EV brands, will bring its technological expertise to the venture. The partnership also highlights GAC's unveiling of the Trumpchi 1 concept. Following the announcement, GAC Group's stock opened up 15% and later surged over 20% in Hong Kong trading, reflecting investor optimism about the collaboration.