Luxeed, the electric vehicle brand co-developed by Huawei and Chery, has rolled out new purchase incentives worth up to RMB 20,000 ($2,790) on its models as competition in China’s auto market intensifies again.
The promotional offer, valid from June 27 to July 31, replaces the brand’s previous three-year interest-free financing plan and includes cash discounts alongside local government subsidies, Luxeed said on its official Weibo account on Wednesday. The brand added that total purchase benefits could amount to as much as RMB 60,000, though it did not provide a breakdown.
The move marks Luxeed’s participation in a renewed wave of pricing competition in the Chinese auto market, despite industry calls to stabilize pricing. “Combined with existing offers, these new benefits give customers more flexibility and value,” the company said in its announcement.
Luxeed operates under Huawei’s Harmony Intelligent Mobility Alliance (HIMA). Its first model, the Luxeed S7 electric sedan, launched in November 2023 with prices starting from RMB 229,800. Its second vehicle, the Luxeed R7 coupe SUV, debuted in May with a current starting price of RMB 259,800.
Earlier this month, Luxeed said it had delivered 100,000 vehicles in total, though it did not release individual sales figures for the S7. The R7 recorded 5,124 units sold in May, according to HIMA.
The broader price war across China’s auto industry had cooled in early June following a call by the China Association of Automobile Manufacturers (CAAM) on May 31 to avoid “vicious competition.” However, Luxeed’s new campaign signals that discounting remains a key strategy for some brands seeking to capture market share.
