Changan and Huawei Introduce a New Car Venture

Jawad

28 Nov 2023

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Changan and Huawei Introduce a New Car Venture

In a significant development for the global automotive sector, Changan Automobile and technology giant Huawei have once again come together for a new collaboration.

Changan recently revealed in a statement to the Shenzhen Stock Exchange that it has entered into a memorandum of cooperation with Huawei to invest in a new company focusing on the design and production of intelligent automotive systems and components.

The tech giant will establish the company, and Changan is set to acquire a stake of up to 40%. Changan aims to leverage this joint venture with Huawei to evolve into a low-carbon, smart transportation technology company.

This partnership builds upon their existing collaboration in the Avatr brand, where they have already introduced two vehicles, the Avatr 11 and Avatr 12. However, this recent memorandum marks Huawei's first financial involvement in their joint endeavors.

Previously, Huawei's role was limited to providing technology through its automotive division. Now, as part of the agreement, Huawei will establish a company dedicated to research and development, as well as the production of smart driving systems and components.

The company's scope is described as "comprehensive and forward-thinking," covering various aspects of the automotive industry, such as automotive smart driving solutions, smart cockpits, smart car digital platforms, smart car clouds, AR-HUD (Augmented Reality Head-Up Display), and smart car lighting systems.

Moreover, Huawei plans to integrate its key technologies and resources in smart car solutions into this venture. It's important to note that the memorandum of cooperation signifies the initial expression of intent, and the finalization of transaction details, including formal agreements like an equity purchase agreement and a shareholders' agreement, is expected within the next six months.

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