Huawei, a leading name in telecommunications, has recently expanded its horizons by establishing a new smart car division, Shenzhen Yinwang Intelligent Technology. This bold move comes amid Huawei’s increasing focus on the automotive industry, a strategic pivot likely influenced by US sanctions on its core telecom business.
The Chinese tech giant has invested US$ 140 Million in the project
This new venture, entirely funded by Huawei with a robust investment of 1 billion yuan (approximately US$140.3 million), is not just a step into a new market; it represents a significant shift in the company’s direction. Huawei, primarily known for its advanced telecom equipment, is now venturing into an industry that is at the forefront of modern technology — smart vehicles.
The move is particularly noteworthy given the current landscape of the automobile industry, where traditional car manufacturing is increasingly intersecting with cutting-edge technology. With this initiative, Huawei is positioning itself at this crossroads, aiming to leverage its technological prowess in areas like artificial intelligence and telecommunications to innovate in the smart car sector.
Furthermore, this development comes on the heels of Huawei’s joint venture with Changan Automobile, a state-owned carmaker in China. This partnership, combined with the launch of Shenzhen Yinwang Intelligent Technology, signals Huawei’s deepening commitment to this sector.
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(Via)
