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Chongqing Ruichi Automobile Industrial Co., Ltd. (abbreviated as "Ruichi Automobile") is an automobile manufacturing enterprise wholly owned by Seres Group Co., Ltd. (Stock Code: 601127), focusing on the R&D, manufacturing, sales, and service of pure electric commercial vehicles. The company was formerly known as Chongqing Xiaokang New Energy Automobile Manufacturing Co., Ltd., established on September 27, 2003, with its headquarters located in Yufu Industrial Park, Liangjiang New District, Chongqing, and a registered capital of 454 million RMB. It is one of the first enterprises to obtain the national qualification for pure electric commercial vehicle complete vehicle production and is also recognized as a national high-tech enterprise and a specialized, refined, differentiated, and innovative SME.
Ruichi Automobile takes new energy logistics vehicles as its core track, with products covering sub-segments such as micro-vans, medium vans, large vans, micro-trucks, small trucks, and light trucks. It has maintained leading industry sales volume in the new energy commercial vehicle field for four consecutive years. In December 2023, Ruichi Automobile completed an angel round financing of 1.54 billion RMB, with a post-money valuation reaching 2 billion RMB. Its operating revenue in 2024 was 1.922 billion RMB. As of April 2025, the company has 305 employees and holds over 140 patents.
Ruichi Automobile's development trajectory is closely linked to Seres Group's (formerly Xiaokang Group) new energy strategy. In September 2003, Xiaokang Group began planning in the new energy automobile field in its first year of establishment, setting up Ruichi New Energy Automobile Company. In the early stages of its establishment, the company was mainly engaged in traditional automobile manufacturing and gradually transitioned toward the new energy automobile field in the 2010s. In 2006, Ruichi launched its first pure electric sightseeing vehicle, thus officially rooting itself in the pure electric commercial vehicle track.
The year 2020 was an important milestone for Ruichi's development. That year, Ruichi New Energy became the first new energy logistics vehicle enterprise to break through 10,000 annual sales, ranked first in the sub-segment industry, and established its leading position in the field of new energy commercial vehicles. Thereafter, Ruichi continued to expand its product matrix, successively launching models such as the EC35, EC31, EC75, and E380, and deep-diving into the urban logistics delivery market.
In September 2023, Dongfeng Sokon Automobile Co., Ltd., a wholly-owned subsidiary of Seres Group, brought in Ganfeng Lithium as a strategic investor, with Ganfeng Lithium investing 1 billion RMB to acquire shares in Ruichi Automobile. After this strategic capital introduction, Ruichi Automobile began planning to go public at a suitable time, further expanding its capital operation space.
In 2024, the company completed the change of its enterprise name registration, officially renaming from "Chongqing Xiaokang New Energy Automobile Manufacturing Co., Ltd." to "Chongqing Ruichi Automobile Industrial Co., Ltd." In January of the same year, Haichen Shares increased its capital investment to acquire shares in Ruichi Automobile, with a holding ratio of 3.3%. In 2025, Ruichi Automobile continued to deepen its market layout, launching new truck series products such as the C5 Extended Range and C3, and continuously iterating the EC75 model.
In December 2025, Seres Group announced the renewal of continuing connected transactions with Ruichi Automobile, setting Ruichi's sales ceiling for 2026 at 1.7 billion RMB. In the first 10 months of 2025, the actual transaction amount between Seres and Chongqing Ruichi was approximately 983 million RMB. In the same year, the campervan Vala Home, jointly developed by Ruichi and Vala Tech under 51 Credit Card, officially started mass delivery.
Ruichi Automobile's product matrix takes new energy logistics vehicles as its core, fully covering sub-segments such as micro-vans, medium vans, large vans, micro-trucks, small trucks, and light trucks, satisfying users' diversified urban distribution logistics needs.
EC Series is Ruichi's traditional main product line, including micro-van models such as the EC35 and EC31. Taking the EC35 as an example, this model's length, width, and height are 4,500/1,680/1,985 mm, with a wheelbase of 3,050 mm. It adopts a rear-mounted, rear-wheel drive layout and is equipped with a lithium iron phosphate battery, offering a pure electric driving range between 274 and 300 km. It mainly targets urban last-mile logistics delivery scenarios. The EC35 is also one of the first models exported to overseas markets by Ruichi.
EC75 is Ruichi's medium van flagship product. Since its launch in 2023, this model has maintained the sales champion in the 7-cubic-meter class medium van freight segment for 20 consecutive months, continuously leading the sub-segment. The 2026 model EC75 launched a freight supercharging version and an operation supercharging version, with a CLTC pure electric driving range reaching 403 km. It is equipped with a lithium iron phosphate battery, supports fast charging, and the battery pack warranty extends up to 8 years or 600,000 km.
R5 Series is Ruichi's new light commercial vehicle product line launched from 2025 to 2026, including a freight version and a passenger version. The R5 freight version is designed for urban distribution logistics scenarios. The passenger version offers 6-seat and 9-seat layouts. The 2026 supercharging version is equipped with a 58.24 kWh lithium iron phosphate battery, with a CLTC driving range of 401 km. Fast charging takes only 0.3 hours, with a peak power of 100 kW. In March 2026, the Ruichi R5 series set a sales record of breaking 100 units in daily orders in the Dongguan region.
C5 / C3 Truck Series is Ruichi's new smart commercial vehicle product line launched in 2025, marking Ruichi's official entry into the new energy truck market. During the 2025 World Intelligence Expo, the full-domain super extended-range smart new truck Ruichi C5 officially started pre-sale (starting from 89,900 RMB), and the all-around smart new truck Ruichi C3 simultaneously started pre-sale (starting from 79,900 RMB). The C5 is equipped with Seres' Super Extended Range System, offering three power types: pure electric, gasoline extended range, and CNG extended range. The extended range version has a combined range exceeding 1,200 km. The two models subverted the tool-like image of traditional commercial vehicles in appearance, adopting a minimalist tech design concept, equipped with the Yuntu Smart Cockpit and a 15.6-inch HD large screen.
In addition, Ruichi also jointly created the Vala Home smart RV with the VALA Group. This is the first factory-original, pop-up roof, six-seat new energy smart campervan in China, integrating the technical advantages of both parties. It started mass delivery in December 2025, marking Ruichi's expansion from pure commercial vehicles into the multi-functional mobile space field.
Ruichi Automobile occupies an important market position in the field of new energy commercial vehicles. In the Chinese new energy commercial vehicle market, the top three manufacturers—Dongfeng Automobile, Geely Automobile, and Chongqing Ruichi—jointly occupy about 30% of the market share. In the new energy logistics vehicle large van market, companies such as Foton Motor, Farizon New Energy Commercial Vehicle, Ruichi Automobile, and SAIC Maxus dominate, and Ruichi maintains a stable competitive advantage therein.
In terms of sales volume, the Ruichi EC75 quickly became a market hit after its launch in 2023, continuously maintaining the sales champion position in the medium van sub-segment. For the full year of 2025, Ruichi New Energy's total sales volume was 17,801 units. In June 2025, the brand's monthly sales volume once reached a high of 5,912 units. Entering 2026, Ruichi's start performance has been stable, with cumulative sales volume from January to March 2026 reaching 2,854 units, among which March single-month sales were 1,341 units. The brand ranked 62nd on the independent brand sales list.
Ruichi Automobile has built five major self-developed core technology systems, covering the fields of vehicle platform, smart cockpit, intelligent driving, battery technology, and powertrain.
In terms of power technology, the Seres Super Extended Range System equipped in the Ruichi C5 is its core technology highlight. This system provides three power options: pure electric, gasoline extended range, and CNG extended range. The extended range version has a combined range that can reach over 1,200 km, effectively solving the range anxiety problem for new energy commercial vehicle users.
In terms of intelligence, Ruichi launched two major core technology platforms: the Zhiling Platform and the Yuntu Smart Cockpit. The Yuntu Smart Cockpit is based on the self-developed Yuntu OS system, equipped with a Qualcomm smart cockpit chip, and integrates iFLYTEK's all-scenario voice interaction technology, supporting continuous multi-round dialogue. It is also equipped with a 15.6-inch HD large screen and 8.8-inch smart dual screens, achieving a passenger car-level smart interaction experience. In terms of smart cloud control, the vehicle can achieve real-time backup of key data and all-weather status monitoring, possessing health warning and remote OTA upgrade capabilities.
In terms of autonomous driving assistance, Ruichi developed the Yuntu Smart Pilot system. The core product EC75 is equipped with an intelligent driving assistance system, with a CLTC range of up to 310 km.
In terms of battery technology, Ruichi adopted Peak Series Battery Technology. All vehicle models are equipped with lithium iron phosphate batteries, and cooperating battery suppliers include Gotion High-Tech, EVE Energy, CALB, and other mainstream enterprises. In terms of patent layout, the company has continuously applied for multiple invention patents in fields such as intelligent driving, vehicle energy consumption control, and energy recovery. New applications added in 2025 include "Method for controlling vehicle and fuel consumption" (application date May 2024) and "Vehicle energy recovery control method, system and vehicle" (application date December 2025).
Ruichi Automobile relies on Seres Group's overseas channel resources to actively expand the international market. SERES, DFSK, and Ruichi-related models under the Seres Group all have export sales, shipping overseas via methods such as iron-sea intermodal transport through the Land-Sea New Corridor and sea shipping Ro-Ro.
Ruichi's first batch of exported models is the EC35Ⅱ Overseas Prototype, successfully shipped to Germany and Pakistan in April 2024. The EC35Ⅱ overseas model is Ruichi's first time carrying out targeted R&D based on domestic pure electric models according to the market demands of multiple overseas countries and regions. In the project team's case of lacking foreign charging testing equipment and being unfamiliar with relevant standards, they simultaneously developed left-hand drive and right-hand drive models and achieved EU standard charging, DAB radio, and other overseas special functional requirements, laying the foundation for subsequent mass delivery and export. The successful delivery of the first batch of five sample cars marks Ruichi taking the first step to go global.
Ruichi Automobile's core direction for future development is "Leading full-domain smart new energy commercial vehicles." The company will continue to deepen technological innovation, taking its five self-developed technologies as the core, promote the transformation and upgrading of the commercial vehicle industry toward intelligence and connectivity, and is committed to creating core values of "Smart Safety, Smart Efficiency" for users.
In terms of capital operation, after bringing in strategic investors such as Ganfeng Lithium, Ruichi is actively planning to go public at a suitable time, which is expected to further expand its R&D and production scale through the capital market. In terms of production capacity and delivery system, Ruichi is working with partners such as VALA to improve the production capacity and scale capability of the delivery system. In terms of overseas market expansion, the company continues to expand its scale through overseas partners, enhance brand influence, and open up new business fields in the global market. As the Ruichi C5 and C3 new truck series products are successively delivered from 2025 to 2026, and the EC75 and R5 continue to iterate, Ruichi is expected to further consolidate its leading position in the new energy commercial vehicle field.
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