Seres revenue up 305% in 2024

Chinese automaker Seres achieved revenue of 145.18 billion yuan ($19.98 billion) in 2024, marking a staggering 305.04 percent rise year-on-year, according to its financial results released late on Monday.

Its net profit attribuated to shareholders stood at 5.95 billion yuan in the same year. Seres also ramped up its innovation efforts, investing 7.05 billion yuan in R&D during 2024, a 58.9 percent increase from the prior year.

The robust performance was fueled by a 182.84 percent jump in NEV sales, which totaled 426,885 units for the year.

The AITO brand, co-developed with Huawei, emerged as a key growth driver.

The flagship AITO M9 luxury SUV surpassed 150,000 deliveries in 2024, securing its position as China's monthly sales champion in the premium segment priced over 500,000 yuan for 11 consecutive months.

Meanwhile, the AITO New M7 series saw nearly 200,000 units delivered, cementing its status as a mass-market favorite.