Stelato G9 draws 5,100 pre-orders in two hours at 439,800 yuan

BAIC BluePark's Stelato G9, the first SUV from its Huawei venture, drew 5,100 pre-orders in two hours at 439,800 yuan, testing whether a 5.2-meter luxury off-roader can lift the loss-making carmaker to profit.

Yu Chengdong, Huawei's executive director and chairman of the terminal BG, said the G9's all-terrain Tulin platform lets the vehicle read road conditions and adjust chassis settings automatically, removing the manual skill usually needed for off-road driving. He described a test run over a cross-axle course where the SUV kept traction with a single wheel on the ground.

Built by BAIC Group, the G9 measures 5.2 to 5.4 meters long with a 3.16-meter wheelbase and comes in pure-electric and extended-range versions. The EV packs a 120-kilowatt-hour battery for 728 kilometers of CLTC range; the range-extender uses a 75-kWh pack for 405 kilometers of electric range and 1,366 kilometers combined. Standard gear includes ±12-degree rear-wheel steering, an 800-volt active disconnect stabilizer bar and an adaptive differential lock, while an optional factory-fitted rooftop tent deploys at the push of a button.

The launch is a test for BAIC BluePark, which lost 4.56 billion yuan in 2025 with a negative 2.35 percent gross margin on vehicles. Its shares rose about 27 percent from July 24 to 31 ahead of the pre-sale, and the company needs the G9 to sustain delivery volumes and hold prices in a segment where the top five models capture about 77 percent of sales.

A crowded field above 400,000 yuan

The G9 enters a segment already dense with rivals. Insurance data compiled by Sinolink Securities shows 86 models priced above 400,000 yuan as of April, yet the top five account for about 77 percent of sales and the top 10 for roughly 89 percent. Family tech-luxury flagships, large five-seat models, traditional premium brands and hardcore off-roaders all have established products, and three-motor setups, zero-gravity seats and advanced driver assistance are converging across the field.

Stelato's answer is to occupy the crossover between a city luxury SUV and a hardcore off-roader. Huawei supplies the HarmonyOS cockpit, assisted autonomous driving and LiDAR, while BAIC contributes decades of off-road experience. The adaptive differential lock, which senses wheel slip and distributes torque in milliseconds, targets urban buyers who want capability without learning manual off-road controls.

Can the G9 repeat the AITO playbook?

The market has a precedent for what a strong launch can do. Seres, which builds the AITO-branded M7 and M9 with Huawei, saw its shares climb 56.74 percent from Feb. 6 to 29, 2024, as the M9 began nationwide deliveries. BAIC BluePark's 27 percent run-up before the G9 pre-sale suggests investors are pricing in a similar outcome.

But one model's heat rarely sustains a premium brand. The G9 must hold its price and deliver consistently in a segment where buyers are price-sensitive, and BAIC BluePark's finances leave little room for error. The company reported a 4.56 billion yuan net loss in 2025 and a negative 2.35 percent vehicle gross margin, though its overall gross margin improved to 3.04 percent in the first quarter of 2026. First-half sales rose to 98,895 units.

Stelato's S9 and S9T sedans, which averaged about 350,000 yuan in the first half, have held the top spot among new-energy sedans above 300,000 yuan for eight straight months, delivering 21,018 units in the period, up 119.58 percent year on year. The G9, priced about 90,000 yuan higher, must prove that momentum extends to a larger, more expensive vehicle.

BAIC and Huawei have committed 20 billion yuan over three years to the Stelato brand, including a 1.99 billion yuan upgrade to the super factory. The G9's success determines whether that spending converts into a high-margin product line that can offset the company's losses. A follow-up MPV, the V8, is due in the third or fourth quarter, which would give Stelato coverage across sedans, wagons, SUVs and MPVs. If the G9 holds its price and delivers steadily, BAIC BluePark gains a repeatable template; if not, the 27 percent stock run-up unwinds.

This article is for informational purposes only and does not constitute investment advice.