Seres Launches New Brand Saidu Tech, to Unveil ¥100,000–200,000 BEV Range-Extended Crossover This Year

Seres has launched a new sub-brand, Saidou Tech, whose first model is scheduled to launch within 2024. Positioned as a crossover between an SUV and a sedan, the vehicle will be available in both all-electric and extended-range electric variants. Production will take place at Seres’ Phoenix Factory, which is currently undergoing production line modifications. Saidou Tech has partnered with Volcano Engine, a subsidiary of ByteDance, to co-develop a large AI model for in-car interactive systems. This collaboration is highly integrated, and notably, the new vehicle will not adopt Huawei’s Qiankun intelligent driving solution. Targeting the young and sporty market segment, the car is expected to be priced between RMB 100,000 and RMB 200,000. It will be sold both domestically and internationally through an independent sales channel, with an official brand launch planned for June. On May 29, 2024, Chongqing Landian Technology Co., Ltd. was officially renamed Chongqing Saidou Technology Co., Ltd. and completed multiple business registration changes. Following a capital increase and share expansion, the company’s registered capital has risen to approximately RMB 9.95 billion. The updated equity structure is as follows: Sha Ci Zhi Yuan, controlled by the Chongqing Shapingba District SASAC, holds 34.5005% and becomes the largest shareholder; Seres’ subsidiary Saihu Company holds 32.9557%, relinquishing control; employee stock ownership platform Yue Xing Jia Sheng holds 16.4779%; Wendeng Investment, a wholly owned subsidiary of CATL, holds 9.8867%; Bojun Technology holds 5.1493%; and Xingyu Shares holds 1.0299%.