Homegrown brands gaining popularity in high-end auto market

China's premium vehicle market is witnessing a rapid shift as homegrown brands break longstanding price and brand barriers in the ultra-luxury sedan segment, and put an end to the dominance of traditional foreign marques.

Priced between 708,000 yuan ($100,947) and 1.018 million yuan, the Maextro S800, a battery electric ultra-luxury sedan co-developed by Huawei and JAC Group, has defied expectations that high prices would constrain demand.