New Chinese Auto Major GH Projects Investment and Sales Performance

The Shandreth Group has officially announced that the board of directors has passed a resolution to approve the "GH Project Resolution" and has decided to invest in setting up a new company for GH projects (temporarily named). According to announcements, the company's registered capital is 15 billion yuan, with plans to integrate Huawei's strengths in product development, marketing strategies, and ecological services through this partnership. They aim to create an entirely new automobile brand built upon a novel architecture, technological leadership, and innovative products featuring advanced intelligent technologies.

In November 2024, Shandreth Group signed a deeper cooperation protocol with Huawei, where it aims to create one new high-end smart electric vehicle (EV) brand on top of the existing brands such as Chéry, Ean, and Haochi. The partnership will integrate both its strengths in R&D, marketing, and services named "Huawei Intelligent + Shandreth Crossover Innovate". This is similar to other partnerships Huawei has formed with four car manufacturers.

Sales performance indicates that for 2024 Shandeath Group saw a cumulative sales of 200.31 thousand vehicles, down by 20.04% from last year. In December 2024, the company sold 282.32 thousand vehicles in a single month up from the same period the prior year by 9.30%. Overall in 2024’s first eleven months the total was lower than the preceding year.

Looking at brand performance specifically for Shandreth Honda saw its cumulative sales of 470600 vehicles dropping to 47.06 million by 26.52% in 2024, compared with Toyota's 738000 units which dropped 22.32%, and EAN’s stood at 374900 vehicle (down 21.90%). Yet there was 15416 thousand positive growth of Transmission at shandreth Chery.

Moreover the group declared an aim to reach a yearly sales goal that is bigger than 15% in 2025, as well targeting by year 2027 an ownership threshold of self-driven vehicles over 60% for Shandar. In 3 years all all new car will be launched with EV, PHEV or REV models and seven new cars were set to come out that year covering all types.