Huawei, Chery Inject 10 Billion Yuan to Expand Luxeed EV R&D

Huawei Technologies and Chery Automobile have signed a new cooperation agreement that moves their joint electric-vehicle brand, Luxeed, into what the partners describe as “Phase 2.0.” Under the deal, Luxeed will invest more than RMB 10 billion ($1.4 billion) and expand its research-and-development workforce to about 5,000 people. The companies said a dedicated new-energy-vehicle unit has been set up to handle production, sales and after-sales services independently. Luxeed plans to roll out additional models—including an MPV based on Chery’s E0X-L platform—after launching the S7 sedan in 2023 and the R7 coupe SUV in 2024. The expanded commitment comes as China’s electric-vehicle market grows increasingly competitive and incumbents race to broaden product line-ups and deepen technological capabilities.