(Yicai) March 11 -- The first electric car developed by Chinese tech giant Huawei Technologies and the new energy vehicle arm of auto manufacturer BAIC Group will go on show at the 2024 Beijing International Automotive Exhibition later this month, according to an internal document seen by Yicai.

BAIC BluePark New Energy Technology’s first Xiangjie autos are scheduled to hit the market in June at a price ranging from CNY300,000 (USD41,671) to CNY500,000, the report said. The firm will produce around 300,000 units a year and plans to add more models such as recreational sedans and sport utility vehicles in the future.

The EV is built under the Harmony Mobility Intelligent Mobility Alliance which is a form of partnership with carmakers in which Huawei not only delivers the automobile software but also participates in vehicle design and marketing

“BAIC Bluepark will unveil a new vehicle model soon,” a company insider told Yicai when asked to verify the report. Full details will be given in the official announcement, he added.

Late last month a BAIC Bluepark manager also said that the EV co-developed by BAIC BluePark and Huawei will come out soon. The Beijing-based firm plans to build distribution and service networks in Asia and Europe this year, he added.

The Xiangjie release is another feather in the cap for Shenzhen-based Huawei which has been linking arms with carmakers in recent years through its Harmony Intelligent Mobility Alliance and its Huawei Inside models.

Huawei and BAIC BluePark have teamed up before, but under the Huawei Inside partnership, whereby Huawei provides a full set of intelligent solutions, including high-precision autonomous driving hardware such as LiDar, a high-performance computer platform and an intelligent driving software system.

The αS, produced under BAIC’s new energy vehicle brand ArcFox, started deliveries in July 2022 but so far has failed to meet market expectations.

Other Huawei Intelligent Mobility Alliance partners are Seres, Chery Automobile and Anhui Jianghuai Automobile Group. Huawei and Seres’ Aito M7 auto has been selling strongly since it hit the market in September last year. And the Aito M8 should start deliveries in the second half.

Huawei and Chery’s first SUV under the Luxeed marque should also start sales later this year. While Huawei and Jianghuai Automobile’s new luxury EV, which targets the high-end market with a price tag of over CNY1 million (USD138,906), should debut next year.

BAIC BluePark’s share price [SHA: 600733] was trading up 9.1 percent at CNY6.67 (USD0.93) as of 11.30 a.m. Earlier in the day it hit CNY6.72.

Editors: Tang Shihua, Kim Taylor