Seres relinquishes controlling stake in Blue Electric Vehicles

In February 2026, Seres decided to relinquish its controlling stake in Blue Electric Vehicles, with the Chongqing Shapingba District State-owned Assets Supervision and Administration Commission taking over. This move reveals a shift in the Chinese auto industry from past "reckless expansion" to current "rational contraction." Seres' decision was based on business realities, as despite achieving substantial net profits in the first three quarters of 2025, Blue Electric Vehicles' retail sales declined sharply, becoming a burden on the company.