(Yicai) April 17 -- Chinese carmaker SAIC Motor and Huawei Technologies have unveiled Shangjie, their new electric vehicle brand targeting the mainstream market, with its first model expected to go on sale this fall.

Shangjie will focus on style, new technologies, and a high-quality traveling experience, Jia Jianxu, president of SAIC, said at a launch event hosted by Huawei's Harmony Intelligent Mobility Alliance yesterday. The project had an initial investment of CNY6 billion (USD821.2 billion), with a dedicated technical team of more than 5,000 members, he added.

In addition, SAIC is building a super factory that will only produce Shangjie models in Shanghai, Jia pointed out.

The new brand was unveiled by Richard Yu, executive director of Huawei and chairman of its auto business unit. Shangjie is the firm's fifth under HIMA, following Aito with Seres Group, Luxeed with Chery Automobile, Stelato with BAIC Group, and Maextro with JAC Group, with vehicle deliveries under the alliance topping 700,000 units, Yu noted.

Shangjie will be positioned as a middle-class EV brand, with its first model expected to be priced between CNY150,000 and CNY250,000 (USD20,530 and USD34,215), making it the cheapest HIMA model, insiders previously told Yicai.

Shenzhen-based Huawei upgraded its Smart Selection model to HIMA to establish deeper ties with automakers and provide intelligent solutions while participating in vehicle design, marketing, and sales.

SAIC used to lead the Chinese car sales market but was overtaken by BYD last year. Sales of the Shanghai-based carmaker rose 13 percent to 944,850 units last quarter from a year earlier, while BYD reported a 60 percent surge to 1 million units.

Editors: Dou Shicong, Martin Kadiev