Gasgoo Munich- On June 9, Saidou Tech officially named its new automotive brand "AIVA," with a launch event scheduled for 7:00 p.m. to 8:00 p.m. that evening. The company, formerly known as Landian Tech, rebranded after completing a capital increase in late May that brought in several new shareholders.Image Source: Saidou TechUnder the capital injection, Chongqing state-owned asset platform Shaci Zhiyuan invested 3.43 billion yuan for a 34.5% stake, making it Landian Tech's largest shareholder. SERES' wholly owned subsidiary Saihu saw its holding drop to 32.96%, ceding control. Other investors include employee ownership platform Yuexing Jiasheng, as well as supply-chain players like Wending Investment — a unit of CATL — Bojun Technology, and Xingyu Auto Parts. Landian Tech has now assembled a shareholder base spanning state capital, automakers, industry leaders, and employees, securing more than 6 billion yuan in development funding.Addressing earlier rumors that SERES and ByteDance's Volcano Engine were collaborating on the new brand, ByteDance issued a statement dismissing the claims as inaccurate. The tech giant stressed it has no plans to build cars or launch an automotive brand, adding that Saidou is not a car brand from ByteDance or its AI assistant Doubao. There is no equity partnership between the two, ByteDance noted, and Volcano Engine and Doubao's cooperation with the auto industry is limited to providing technical services such as large language models and smart cabin solutions.AIVA's first model — a crossover positioned between an SUV and a sedan — is slated for launch later this year. The vehicle will offer both battery-electric and extended-range powertrains, with production handled at SERES' Fenghuang plant. Targeting younger buyers with a sporty aesthetic, the new brand will compete in the 100,000 to 200,000 yuan price bracket. AIVA plans to establish an independent sales network and will target both domestic and overseas markets.
