Chinese automaker Changan announced on Monday that it will be launching a new electric vehicle brand called “Qiyuan” this year. The brand is aimed at families looking for products within the price range of RMB 100,000 to RMB 200,000 ($14,449-28,898). This move will differentiate it from other brands in the same family, such as Deepal, which was launched in April 2022 and targets younger Chinese customers with a price range of RMB 150,000 to RMB 250,000, as well as the higher end Avatr, which was co-developed with Huawei and CATL. During an earnings meeting with investors, Changan Chairman Zhu Huarong confirmed that the state-owned manufacturer has plans to co-develop new EV models with Ford, which are scheduled to launch next year. The move is aimed at helping its long-term US partner to boost its declining sales in China. [Caixin, in Chinese]