Beijing (ZXZC)- Chinese ICT giant Huawei and legacy automaker JAC Group are reportedly teaming up to produce a luxury pure-electric vehicle model with a price range of about 800,000 yuan to 1 million yuan ($122,000 to $153,000), according to a local media outlet.

Photo credit: Huawei

Market analysts noted that a significant number of luxury car owners surveyed use Huawei smartphones. Sources close to the matter said that JAC Group intends to learn from Huawei's engineering development system and has therefore provided more flexible cooperation space for Huawei in this partnership.

"Huawei will participate in the cooperation project’s vehicle development, electronic and electrical architecture, and the R&D of electric motor, power batteries, and electric control systems," the source said.

Moreover, JAC Group has been positively engaged in this partnership with Huawei. "JAC has been proactively learning Huawei's management model, and even the development of the entire vehicle is carried out according to Huawei’s IPD process," the source added.

Public information shows that the new Huawei-JAC project is located in the JAC New Port Industrial Park in Feixi county, Hefei city, Anhui Province, with a total investment of about 2.6 billion yuan ($400 million). The factory is expected to be completed by early next year.