Seres's Jan-Sept revenue up 539%

Chinese NEV maker Seres saw its revenue from January to September this year hit 106.63 billion yuan ($14.99 billion), up 539.24 percent from same period last year, according to its third-quarter financial results released on Wednesday.

The company saw its net profit attributable to its shareholders stand at 4.04 billion yuan in the first three quarters this year.

Rising sales, a renewed product portfolio and its focus on innovation were among factors that drove its profit, said Seres.

Statistics show that Seres sold 316,713 vehicles from January to September this year, up 364.23 percent year-on-year, much higher than the average growth rate of China's automotive market.

Of its models, the M7's cumulative sales have exceeded 200,000 units, while the flagship M9 has been the best-selling SUV priced over 500,000 yuan in the country for six months in a row.