By Li Panpan

(JW Insights) Aug 29 -- Chinese premium smart electric vehicle brand SERES(赛力斯) and Germany's Bosch China signed a strategic cooperation agreement to work in the research and development of vehicle safety systems, driver assistance, automation functions, powertrain and electrification solutions, new material applications and parts supply, announced the official WeChat account of Bosch China recently.

According to the announcement, SERES will list Bosch China as a strategic partner in vehicle safety systems, driving assistance, automation functions, powertrain and electrification solutions, and automotive aftermarket technology and services. Bosch China regards SERES as a long-term strategic partner, providing sound engineering and after-sales service, supply guarantee, and competitive product prices.

The two parties will comprehensively promote business cooperation and jointly create high-end intelligent electric vehicles for customers.They will also give full play to their respective advantages and expand overseas markets together.

Previously, the in-depth cooperation between SERES and Huawei has attracted much attention, with outstanding car sales. However, some industry insiders believe that the bonus for collaboration between SERES and Huawei may be fading, judging from the 26.66% year-on-year decline in total sales and the loss of RMB1.8 billion ($246.99 million) to RMB1.93 billion ($264.83 million) in the first half of the year.

It is reported that SERES has carried out a new round of organizational structure adjustments and newly established the AITO business group to further improve management efficiency, respond quickly to decision-making, focus on core business, and promote innovation and development.