Seres Divests Landian Auto as State Capital Takes Over, Focusing on High-End Aito Strategy

On February 9, Seres announced in a public filing that it plans to contribute existing assets related to Landian Auto as capital contributions to jointly establish a new company with the Shapingba District government of Chongqing and other investors. The Shapingba District government will inject cash through funds and other means, acquiring approximately 33.5% ownership upon completion of the transaction, thereby becoming the controlling shareholder. Seres will hold around 32% and transition to a minority stakeholder, relinquishing control over Landian’s operations. This move aims to optimize Seres’ asset structure and sharpen its focus on its core premium brand, AITO. Landian was established in 2023 and targets the RMB 100,000-level new energy vehicle segment, though its sales currently represent a small share of the group’s total volume. Analysts note that bringing in state-owned capital will help reduce Seres’ investment risk and support Landian’s exploration of new directions such as embodied intelligence. Meanwhile, AITO has just rolled out its one-millionth vehicle, as Seres intensifies its push into the premium smart electric vehicle market.