CFOTO/Future Publishing via Getty Images
A Chinese electric vehicle brand has overtaken longtime market leaders BMW and Mercedes-Benz at the top of the world’s biggest auto market.
Aito, an EV brand launched by Seres Group and tech giant Huawei, topped China’s high-end car sales last year with 151,000 units delivered — surpassing BMW’s 145,000 and Mercedes-Benz’s 127,000, according to data from Shanghai-based consultancy ThinkerCar.
Aito’s rise is largely due to the success of its flagship M9, a luxury SUV that went on sale in late 2023.
The M9 quickly proved popular with Chinese drivers thanks to its tech-heavy features, including Huawei’s HarmonyOS operating system, a triple-screen dashboard, and premium interior options.
WANG ZHAO/AFP via Getty Images
Seres, previously known for low-cost minivans under its DFSK Motor brand, repositioned itself with the Aito brand after forming a strategic partnership with Huawei in 2021.
Since then, rapid growth has resulted. Vehicle sales tripled over three years to about 427,000 units last year, and its stock rose by 120% on the Shanghai exchange over the same period.
Aito’s success reflects a major shift in China’s premium auto segment, which was once dominated by foreign brands. In 2020, Mercedes-Benz was top with 259,000 sales, followed by BMW on 235,000 and Porsche on 79,000, per ThinkerCar data.
By 2024, Chinese EV makers such as Aito and NIO had broken into the rankings, disrupting what ThinkerCar described as a BMW, Benz, and Audi “monopoly.”
Sales of Chinese EVs are also rising outside their home market.
BYD outsold Tesla in Europe for the first time in April, according to JATO Dynamics data released on Thursday.
BYD also outsold Tesla globally in the first three months of the year, selling about 416,000 EVs, compared with Tesla’s 336,700 EVs.
The post BMW and Mercedes outsold in China by an automaker you’ve never heard of appeared first on Business Insider.
