Huawei is developing a luxury multi-purpose vehicle in collaboration with Chinese manufacturer JAC Motors, a move that could significantly increase the latter’s revenue by at least 20-30% next year, according to TF International Securities analyst Ming-Chi Kuo. The Aito-branded electric van is scheduled for production in the second quarter of 2024 and will be positioned similarly to Huawei’s P/Mate series in the Android smartphone market, with an estimated price tag of around RMB 1 million ($140,000), said Kuo. A person with direct knowledge of the matter informed the state-owned media outlet The Paper that Kuo’s estimated production timeline was incorrect, but no further comments were made. Any decisions regarding JAC’s collaboration with Huawei to build premium EVs will be based on the official announcement, as stated by an investor relations representative for JAC, according to the report. [The Paper, in Chinese]