Nov 29, 2023 08:51 PM

BUSINESS

Five Things to Know About Huawei’s New Smart Car Venture

By An Limin and Ding Yi

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Changan Automobile signed a memorandum of cooperation with Huawei on Saturday to take as much as a 40% stake in the new venture.

Changan Automobile signed a memorandum of cooperation with Huawei on Saturday to take as much as a 40% stake in the new venture.

Huawei Technologies Co. Ltd. is doubling down on efforts to expand its nascent smart driving systems business, with plans to bring its auto partners together under a new venture, where the tech heavyweight will put its core technologies and resources to work.

Huawei announced on Sunday a plan to establish a new company dedicated to developing intelligent vehicle systems and components, which will be open to investment from its auto partners and other carmakers with strategic value.

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