Beijing (ZXZC)- On July 2, SERES Group, the automaker co-developing the AITO series vehicles with Huawei, announced that its subsidiary, SERES Automobile Co., Ltd. (SERES Auto), plans to acquire 919 registered or pending text and graphic trademarks, including the AITO series, along with 44 related design patents from Huawei for a total of 2.5 billion yuan.

AITO M5 logo; photo credit: AITO

Significantly, an appraisal report issued on the same day by Zhongjing Minxin (Beijing) Assets Valuation Co., Ltd. revealed that the market value of the 919 trademarks and 44 design patents held by Huawei Technologies Co., Ltd. and its subsidiaries was 10.23 billion yuan as of May 31, 2024.

In response to the transaction, Huawei stated that it will continue to support SERES in producing and selling AITO vehicles. Huawei reiterated its stance of not manufacturing cars, but instead leveraging its advanced intelligent connected vehicle technology to help automakers build and sell high-quality vehicles. Huawei will persist in collaborating with car companies to create outstanding smart car products and deliver an exceptional intelligent travel experience for users.

Notably, before this announcement, SERES and Huawei signed an agreement to further deepen their joint business cooperation. Under this agreement, the two companies will continue to leverage their respective strengths, focusing on the AITO brand under SERES Auto. They will engage in joint design and marketing efforts to provide users with high-end smart electric vehicles and intelligent travel solutions, aiming for mutual commercial success.