Saidou Launches AIVA EV Brand, Partners with ByteDance's Volcengine After 6.7B Yuan Funding

According to Reuters, Seres-backed Saidou Technology launched its AIVA electric vehicle brand in China on June 9 and announced a partnership with Volcengine, a ByteDance unit, on smart cockpit technology for mass-market EVs. The move followed a 6.7 billion yuan (US$985 million) capital increase and share expansion on May 29, after which Seres became Saidou's second-largest shareholder rather than maintaining control. Saidou president Li Bo said AIVA's first production model will be unveiled later this year.
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