Huawei Encroaches on Tesla’s Turf, Pushing China EV Maker Up 50%
- Manufacturing partner Seres has surged since launch of Aito M7
- Investors need to monitor competitive threat: Morgan Stanley
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Huawei Technologies Co. has scored a hit in China with its latest electric vehicle, making its manufacturing partner Asia’s top stock over the past month and giving Tesla Inc. and other rivals reason to take notice.
More than 50,000 orders were placed for the revamped Aito M7 in the first 25 days since its September launch. Analysts are hailing the electric SUV’s early success, attributed in part to Huawei’s strong lure among consumers in China where it has a large network of retail shops.