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Aiways, the Chinese electric vehicle manufacturer, is in discussions with investors to resume production of its existing models and develop a new, budget-friendly car to transition into an export-oriented brand.
According to the company’s spokesman, talks with investors are underway as Aiways aims to secure substantial funding necessary for its operations and development endeavors.
Challenges and Ambitious Targets:
Facing financial challenges, Aiways suspended production at its Shangrao plant last summer. The company has been conducting test production on its U5 and U6 electric vehicle models while negotiations with investors progress.
Aiways is confident about securing the required investment and aims to export 15,000 and 25,000 cars this year, with plans to achieve even higher numbers in the coming years.
Investor Landscape and Financial Support:
Aiways’ investors include notable names such as tech giant Tencent, ride-hailing group DiDi, and battery maker CATL. The company seeks funding from Chinese and European investors to cover operating expenses and development costs, crucial for its revival and expansion plans.
Market Strategy and Geographic Focus:
Amidst a challenging price war in China’s competitive EV market, Aiways plans to focus on the European market, leveraging its prior experience and presence in those regions.
The intense competition in China’s auto sector has led Aiways to prioritize export markets over domestic sales, where profitability is deemed more viable.
Product Development and Future Plans:
In addition to its existing U5 and U6 models, Aiways is developing a more affordable electric car for the European market.
This new model, aimed at a price point of around 25,000 euros, reflects the company’s commitment to providing accessible electric mobility solutions to a broader consumer base.
