From humble springs to electric vehicles: The evolution of China's Seres Group

Countries & Cities · Published 15 October 2026 Swipe more like this →

In short: Founded in 1986 as a small factory making appliance components, Seres Group has transformed into a major player in the global electric vehicle market. By pivoting from mechanical parts to smart automotive technology, the company recently became one of the few global manufacturers to successfully transition from losses to profitability.

The company began as Chongqing Baxian Fenghuang Electronic Factory, established in September 1986 by Zhang Xinghai. Initially focused on manufacturing springs for automotive seats and components for household appliances, the firm achieved a 90% market share in its sector. By 1996, it expanded into shock absorbers through the Chongqing Yu'an Shock Absorber Company, eventually producing over 1.5 million units annually. This mechanical foundation provided the capital and expertise to enter the vehicle production market in the early 2000s.

A pivotal moment occurred in 2003 with the formation of a 50:50 joint venture, Dongfeng Yu'an Automobile, alongside Dongfeng Motor Corporation. This partnership produced microvans and later SUVs, such as the DFSK Glory 580. By 2018, the group restructured, acquiring Dongfeng's share in the venture to become the sole owner of the DFSK brand. The company, renamed Seres Group in 2022, has since aggressively pursued the electric vehicle sector, forming strategic partnerships with tech giants like Huawei for software development and CATL for battery supply.

The group's recent financial performance highlights its rapid ascent. In 2024, revenue grew by over 300%, driven by strong sales of new energy vehicles. This growth allowed Seres to join Tesla, BYD Auto, and Li Auto as one of the few companies in the sector to achieve profitability. Today, the group manages a diverse portfolio, including the AITO brand for the domestic market and the Seres brand for international exports, while continuing to innovate through subsidiaries like Saidou Technology.

General information, not professional advice. Spotted an error? Flag the card or see corrections and complaints.

Intellect Plus is a visual educational discovery platform for exploring fascinating facts and ideas. Brain Food, Not Brain Rot. What is Intellect Plus?

Related

• How a Chinese EV startup became a global manufacturing powerhouse through strategic partnerships
• China's car industry grew from four state giants to roughly 150 brands
• How a Sino-foreign partnership is reshaping the global automotive landscape
• How China transformed from a minor car assembler into the world's largest vehicle exporter.
• How a Chinese EV giant became the world's third-largest electric vehicle manufacturer
• A massive tidal wave surges up the River Severn twice a day, every day.
• The river that carries no name for its entire length
• Can the massive tides of the Severn Estuary power the United Kingdom's future?
• Seocho District: A Modern Metropolis Built Upon Ancient Foundations and High-Stakes Legal Power
• Who are the Shabaks, the enigmatic community caught between competing ethnic and religious identities?
• The Seneca people are using artificial intelligence to save their endangered ancestral language
• How a forgotten PlayStation role-playing series blended Lovecraftian horror with early twentieth-century history

More in Bodies of water · More in Countries & Cities · Latest · A–Z · All topics