Huawei Unveils 1 Million Yuan EV to Crack China Luxury Market

Huawei Technologies Co. and its automaking partners are pushing further into the luxury end of China’s car market with the launch of the Maextro S800, a sedan with a price tag exceeding the 1 million yuan mark.

The smartphone maker and Anhui Jianghuai Automobile Group Corp., or JAC, unveiled the vehicle in Shenzhen on Friday. Priced at 1.02 million yuan ($141,637) for its most premium version, the car is designed to go up against top-end models from Mercedes-Benz Group AG and Volkswagen AG’s Bentley.