Huawei's electric vehicle partner Seres is considering a secondary listing in Hong Kong in order to raise further capital, according to multiple media reports.

Sources familiar with the matter said Seres is discussing with potential advisors a plan to issue shares in Hong Kong, and a secondary listing may help the company raise more than $1 billion.

If the company decides to move forward with the plan, it could make a secondary listing in Hong Kong as early as next year.

In response, a Seres staff member said Monday, "Not sure about the situation."

Founded in 2007 and headquartered in Chongqing, Seres is involved in the research and development, manufacturing, sales and services of new energy vehicles and core electric drive system, as well as traditional vehicles and core component assemblies.

Seres, which was listed on the Shanghai Stock Exchange in June 2016, joined hands with Huawei to launch its electric vehicle brand AITO Wenjie by the end of 2021.

Data shows that as of November 27, 2024, the cumulative deliveries of the latest Wenjie M7 have exceeded 180,000 units in 2024, and the cumulative sales have ranked first among emerging EV brands in China for 11 consecutive months.