AITO Acquires 33.3% Stake in BMW‑Mercedes IONCHI JV
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- SERES Group – its AITO brand acquires a 33.3% stake in IONCHI, joining BMW and Mercedes‑Benz as equal partners in the premium EV charging joint venture.
- IONCHI – originally a 50:50 venture between Mercedes‑Benz Group China and BMW Brilliance Automotive, aimed to build 1,000 high‑power stations and ~7,000 charging points in 100 Chinese cities by the end of 2026.
- IONCHI – by December 2025 had connected about 430 fast‑charging stations with 2,408 charging points across 37 cities, meaning it must more than double its station count and nearly triple its points in 2026 to meet the original target.
- SERES Group – reported record 2025 revenue of RMB 165.05 bn ($22.7 bn) and net profit of RMB 5.96 bn ($820 m), while its AITO brand delivered over 420,000 vehicles, making it the best‑selling Chinese luxury EV brand domestically.
- AITO – backed by Huawei’s Harmony Intelligent Mobility Alliance, sold 110,000+ M9 units, 150,000+ M8 units, and 110,000+ M7 units in 2025, retaining leadership in its price segments.
- The new IONCHI JV – will operate on 100 % renewable energy, locate stations at prime urban sites, and give BMW, AITO, and Mercedes‑Benz owners exclusive online reservation and priority power allocation.
- China’s EV charging market – grew to over 21 million charging points by February 2026, a 47.8 % year‑over‑year increase, with a government plan to reach 28 million facilities by 2027, highlighting demand for premium networks like IONCHI.
Why it matters: BMW, Mercedes‑Benz and SERES each gain a 33.3% stake, giving the German automakers a Chinese partner to help double IONCHI’s station count in 2026 and giving SERES a premium charging network to reinforce AITO’s luxury positioning, while Chinese EV owners receive a higher‑quality, reservable charging experience.
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