Huawei-backed Maextro V800 hit by brake test failures as JAC shares plunge by daily limit

• All 3 Maextro V800 MPVs tested by Dongchedi suffered brake pedal bracket failures during emergency braking, raising concerns about vehicle safety.
• The Maextro V800 was launched on August 5, with prices ranging from 766,000 yuan ($113,710) to 1,016,000 yuan.

Anhui Jianghuai Automobile Group Corp (JAC, SSE: 600418) shares fell by the daily limit on Thursday after reported brake pedal bracket failures during tests of its Huawei-backed Maextro V800 luxury MPV (multi-purpose vehicle) became a trending topic on Chinese social media.

As of publication, JAC shares were at the daily lower limit, having ended the morning session at 24.72 yuan, down 10.01%. The decline reversed several consecutive days of gains.

Dongchedi, an Chinese automotive information platform, released a test video earlier on Thursday saying that all 3 Maextro V800s suffered brake pedal bracket failures during emergency braking tests from 100 km/h to a standstill.

The first vehicle's bracket broke during its third braking attempt, and the second vehicle's during its fourth. A third new vehicle purchased subsequently suffered the same failure during its second attempt.

According to the video, the failures prevented normal braking using the pedal, forcing testers to stop the vehicles using the emergency braking function activated through the Park control.

The descriptions of the failures come from the testing team, and no official investigation findings have been released. JAC and Huawei's HIMA (Harmony Intelligent Mobility Alliance) have yet to comment on the matter.

The video sparked debate over vehicle safety and the testing methods. Some social media users called on JAC to investigate, while others questioned whether repeated high-intensity braking met applicable standards and whether they accurately reflected real-world driving conditions.

Maextro, jointly developed by Huawei and JAC, sits at the top of HIMA's brand portfolio.

The V800 was launched on August 5 as a flagship MPV, with announced launch prices ranging from 766,000 yuan ($113,710) to 1,016,000 yuan. It targets the high-end business mobility market that includes the Toyota Alphard and Lexus LM.

JAC has repeatedly said it will concentrate its resources on ensuring Maextro's commercial success. Chairman Xiang Xingchu has also said the company will continue investing in the ultra-luxury market and expand the brand's product lineup.

The limit-down move followed a string of gains in JAC shares. In an announcement on the evening of September 30, the company said the cumulative deviation of its daily closing-price gains had exceeded 20% over the 3 consecutive trading days of September 28, 29 and 30.

In the announcement, JAC confirmed that it had discussed potential cooperation with Huawei and Stellantis. However, as of the announcement's publication, neither the scope nor the form of cooperation had been determined, and no legally binding formal agreement had been signed.

JAC said at the time that further progress on the potential cooperation remained subject to significant uncertainty.