ByteDance Clarifies No EV Plans, Denies Equity Ties with Saidou

ByteDance issued a statement on June 6, clearly stating that the company has no plans to enter the automotive manufacturing business or launch an automobile brand. The statement clarified that recent media reports interpreting "Saidou" as "Doubao Auto Brand" or suggesting "ByteDance is entering car manufacturing" are inaccurate. ByteDance emphasized that "Saidou" is not an automotive brand launched by ByteDance or its product "Doubao," and there is no equity-based partnership between ByteDance and "Saidou." ByteDance also explained that collaborations between its Doubao and Volcano Engine divisions with automotive industry partners primarily focus on providing technical services such as the Doubao large language model and intelligent cockpit solutions, aiming to enhance in-vehicle smart interaction experiences for their partners. Earlier media reports indicated that Seres is preparing to launch a new automotive brand, with "Saidou Technology"—which recently completed its business registration changes—as its legal entity. The new brand targets young, sporty consumers and is expected to debut in June. It will engage in deep collaboration with Volcano Engine, adopting a cooperation model more extensive than Seres’ previous partnership with SAIC Roewe. The new brand plans to establish independent sales channels and will simultaneously target both domestic and overseas markets, for which Seres has already assembled dedicated marketing and channel teams.