Seres Group is reportedly preparing to launch a new automotive brand aimed at younger consumers and the performance-oriented vehicle market, according to a report by LatePost.
The new brand is expected to debut in June and will focus on smart new energy vehicles, with support from Chongqing state-owned capital and technology participation from ByteDance’s cloud platform, Volcengine.
New Venture Receives Fresh Funding
According to the report, the business will operate through Chongqing Saidou Technology Co. Ltd., formerly known as Landian Technology Co. Ltd., a subsidiary of Seres Group.
Earlier this week, the company completed a capital increase and share expansion round that raised approximately 6.67 billion yuan (US$984 million).
Following the transaction, Shaci Zhiyuan, an entity controlled by the State-owned Assets Supervision and Administration Commission of Chongqing’s Shapingba District, became the largest shareholder with a 34.5% stake.
Seres’ ownership was reduced to 32.5%, a move that reportedly results in the business no longer being consolidated into the listed company’s financial statements.
CATL Among Investors
Several strategic investors participated in the funding round.
CATL, through its subsidiary Wending Investment, acquired an approximately 9.89% stake in the company.
Other shareholders reportedly include an employee stock ownership platform as well as automotive supply chain companies including Jiangsu Bojun Industrial Technology and Changzhou Xingyu.
Volcengine’s Expanded Role
The report said Volcengine will play a significant role in the development of the new brand.
According to sources cited by LatePost, the level of involvement goes beyond traditional supplier relationships or joint development arrangements.
The collaboration is reportedly known internally within ByteDance as “Project A.”
Neither Seres nor ByteDance has publicly disclosed details regarding the scope of the partnership.
Focus on AI and Global Markets
Saidou Technology is expected to focus on smart passenger new energy vehicles and the integration of artificial intelligence technologies into future products.
According to the report, the company aims to develop a portfolio of intelligent vehicles positioned around technology features and competitive pricing.
The new brand is also expected to target both domestic and international markets.
Seres has reportedly established dedicated sales, marketing and channel teams, while the project is being managed under the company’s overseas business division, highlighting its global ambitions.
Diversifying Beyond Aito
The reported launch comes as Seres seeks to diversify its business beyond the Aito brand, which it co-developed with Huawei.
Aito has become a major contributor to the company’s growth in recent years, but analysts have noted that Seres remains heavily reliant on the brand for both revenue and vehicle sales.
In the first quarter of 2026, Seres reported revenue of 25.75 billion yuan and net profit attributable to shareholders of 754 million yuan.
The company also reported new energy vehicle sales of 78,500 units during the quarter, representing year-on-year growth of 43.9%.
Formerly known as Chongqing Sokon Industrial Group, the company adopted the Seres Group name in 2022 as part of its transition toward new energy vehicles.
The reported new brand initiative would represent another step in Seres’ efforts to expand its presence across China’s increasingly competitive smart electric vehicle market.