According to car media "HiEV", citing multiple sources, SERES（SeresGroup Co., Ltd.） recently introduced an industry mogul -- the former Huawei Intelligent Vehicle Product Department Director Li Bo as the vice president of SeresGroup.
According to reports, Li Bo has been a veteran of Huawei for many years, serving in the Huawei terminal ecosystem for a long time. In Huawei's system, the minister of the product department is equivalent to the president of the product line, responsible for product planning, research and development, as well as business operations. During his time at Huawei, Li Bo reported to the president of Huawei's terminal BG Smart Car business unit.
Sources close to the matter said that with the rapid growth of brands such as AITO and Landian in 2023, Seres has expanded to around 20,000 people. At present, Seres has not yet announced the specific business jurisdiction of the new mogul, Li Bo's joining is related to Seres's big expansion of the product map and overseas plans.
According to a previous report, Seres announced on January 24 that it expects to realize operating revenue of 35.5 billion yuan to 36.5 billion yuan in 2023, a year-on-year increase of 4.09% to 7.02%, according to a preliminary calculation by its financial department. It is expected that the net loss in 2023 will be 2.1 billion yuan to 2.7 billion yuan, a year-on-year loss.
According to the announcement, the high investment in research and development of core technologies and products for high-end intelligent electric vehicles has led to an increase in research and development expenses and labor costs, affecting the current period's results. In the first three-quarters of the sales downturn, fixed costs and related expenses are higher, affecting the results of the current period. In the fourth quarter, the company's profitability is expected to be further enhanced with the launch of M7 and M9.
February production and sales statistics show that Seres 2024 February new energy vehicle production of 32,273 units year-on-year growth of 257.64%, sales of 30,257 units year-on-year growth of 360.04%. In the first two months of this year, Seres' new energy vehicle production totaled 71,020 units, up 390.64% year-on-year, and sales totaled 67,095 units, up 485.37% year-on-year. This series of data shows that Seres' performance in the new energy vehicle market is continuing to grow strongly.
The cooperation between Seres and Huawei has been going on for a long time, with Huawei responsible for front-end sales and promotion and Seres responsible for back-end services. According to some automotive industry practitioners, the success of Seres is largely due to this cooperation model with Huawei.
In addition, Seres will also be close to Huawei in its internal operation system. Seres not only plans to launch a full shareholding program and imitate Huawei's employee hierarchy but also intends to promulgate the Basic Law of Seres and introduce a rotating chairman system, drawing on Huawei's quality and R&D management system.
The two brands of Seres, AITO and Landian, are targeting the overseas market, and by the end of 2022, SERES had exported nearly 500,000 units of automobiles to more than 70 countries and regions. The 2023 Series also continued to expand its overseas territory, and in January, it showed up at the Brussels Motor Show in Belgium with the Series 5, according to the official disclosure, it had received more than 20,000 orders for new cars at that time. Up to now, Seres has completed its brand launch and new car listing in Norway, Morocco, Israel, UAE, Brazil, Nepal, Palestine, and other countries and regions, and has built a whole-vehicle smart factory in Indonesia.