AITO Swings From Profit to Loss
💡AITO’s losses show how intelligent-driving and platform fees can erase margins despite rising EV deliveries.
⚡ 30-Second TL;DR
What Changed
Seres delivered 178,800 vehicles in the first half of 2026, up 3.87%, while AITO deliveries reached 160,800 units.
Why It Matters
The results expose the margin and dependency risks of automakers using an external technology-and-sales platform for intelligent vehicles. For AI vehicle startups, the case shows that rapid sales growth may not translate into profitability when software, smart-driving systems, distribution, and product-definition fees absorb a large share of vehicle revenue.
What To Do Next
Build a unit-economics model that separately tracks per-vehicle costs for Huawei’s intelligent-driving, cockpit, software, product-definition, and sales services before expanding a smart-car partnership.
Key Points
- •Seres delivered 178,800 vehicles in the first half of 2026, up 3.87%, while AITO deliveries reached 160,800 units.
- •The company earned RMB 754 million in Q1 but lost RMB 2.471 billion in Q2 as core models entered a transition period.
- •Seres paid Huawei RMB 42.03 billion in 2024 and RMB 22.325 billion to Shenzhen Yinwang in 2025 for components, software, development, and sales services.
- •The article estimates that Huawei-related procurement represented about 35% of AITO’s average transaction value in 2025.
- •Huawei’s HarmonyOS Zhixing reportedly contributed about 80% of Shenzhen Yinwang’s business, with AITO accounting for most HarmonyOS Zhixing deliveries.
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Original source: 虎嗅 ↗
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