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According to automobile brand Seres on Thursday, due to increases in the cost of raw materials, the price of the company’s SF5, a model jointly developed with Huawei, rose by 20,000 yuan ($2,997) since Friday.

The two-wheel drive version of the SF5 increased from 216,800 yuan to 236,800 yuan, while the four-wheel drive version of the vehicle increased from 246,800 yuan to 266,800 yuan.

SF5 is the first car on which Huawei worked with Sokon, the parent company of Seres. The vehicle features a total peak power of 405kW and a total peak torque of 820 N · m and can accelerate from 0 to 100 km/s in 4.68 seconds. It is also equipped with several radar and camera systems, notably a high-precision millimeter wave radar and ultrasonic radar, and a wide-angle and high-sensing cameras. In terms of smart driving, the SF5 ships with traffic jam assistance, high-speed cruise assistance, front collision warning, automatic emergency braking and more.

However, after it was released in April last year, the SUV received little attention. According to the China Passenger Car Association, from January through December, 2021, a total of 8,169 SF5 vehicles were sold, with an average monthly sales volume of less than 1,000 vehicles.

In January this year, Sokon released a record of investor relations activities, responding to public concern about cooperation with Huawei. When talking about the low delivery of SF5 vehicles last year, the company said that the SUV was mainly developed in the US and uses more electronic materials produced locally, which makes its production more likely to be affected by the current chip shortage.

In terms of new models, Sokon pointed out that they have launched the AITO M5 while expecting to launch a new, larger SUV model later this year. The company is also developing a new large-size SUV, which will be released in 2023.

The AITO M5 also underwent two rounds of price adjustments this year. The price of the four-wheel drive version was increased between 12,000 yuan and 15,000 yuan on Thursday while the rear-drive version increased by 10,000 yuan as of April 20th.

SEE ALSO: Huawei-backed AITO Announces 4WD M5 Price Increase