Both Huawei and SAIC, China’s biggest manufacturer of gas-powered vehicles, expect the Shangjie H5 to be a hit, especially among the large pool of young Chinese customers. SAIC has been struggling with declining sales and sliding profits since consumers have begun transitioning to smart, electric cars. A teaser image of the Shangjie H5, the first model co-developed by Huawei and SAIC under the Shangjie EV brand. Chen Hong, who was the chairman of SAIC at the time, spoke at the World Artificial Intelligence Conference (WAIC) in Shanghai in July, 2018. SAIC reported an 88.2% plunge in net profit as well as a 15.4% decline in revenue last year, mainly due to the poor performance of partners Volkswagen and General Motors.