Scotiabank Hires Morgan Stanley Executive to Lead Its Global Banking and Markets Unit 
Binance's CZ Partners with OpenAI's Altman on AI Investment Venture 
Tesla Clears Regulatory Hurdles for FSD Launch in China with Baidu's Help 
Lawyer Accuses DOJ of 'Obvious Disdain for Privacy' in Tornado Cash Case 
Google Cuts Jobs in Key Programming Teams Before Developer Conference 
China Beat South Korea in OLED Panel Shipments for Small Gadgets 
Portugal Golden Visa as Best RCBI (Residency/ citizenship by investment) program in the world! 
KT Innovates Media, Content Business Through AI 
Ediya Coffee to Add Taiwanese QR Payment Option in May 
Shiba Inu Price Forecast: Historical Data Predicts May Movement 
Tesla Cybertruck Adds Baja Mode, CyberTent for Enhanced Off-Roading 
Carlsberg Reports Strong Start to the Year with Premium Brand Growth 
MetaComp and Harvest Global Launch Innovative Bitcoin Spot ETFs in Singapore 
Tesla Cybertruck Triumphs in Off-Road Challenge, Reveals Enhanced Features 
Intel, Naver, and KAIST to Jointly Open an AI R&D in South Korea 
Spot Bitcoin ETFs Begin Trading in Hong Kong, Marking New Investment Era 
Sam Altman Hints at Link Between OpenAI and Mysterious 'GPT2-Chatbot' 
Huawei Technologies Co., Ltd. signed a memorandum of understanding (MOU) with Chongqing Changan Automobile Co., a China-based automaker, to establish a joint venture for smart car systems. The tech company will invest in this JV to design and produce smart technologies for vehicles and their components.
As per Bloomberg, the partnership was revealed by Changan Auto through a statement forwarded to the Shenzhen Stock Exchange. In the same filing, it was indicated that in the joint venture, Huawei and Changan will set up a new company where the latter will hold a 40% stake in it.
Huawei to Move Core Technologies to the New Smart Car JV Unit
Changan Automobile said it expects the JV with Huawei to help the company with its efforts to become a low-carbon, smart transportation tech group. While it will work on the joint venture, the automaker said its collaborative scheme with Huawei will have no significant effect on its business operation, including its operating results for this year.
Huawei said on Sunday, Nov. 26, that it will transfer its core technologies and resources from its smart car division unit to the new JV company. The newly set up firm will focus on research and development (R&D), manufacturing, sales, and service of smart systems for automobiles. The firm said it will also include component solutions.
Scope of Partnership Deal
China’s Pandaily reported that Huawei and Changan Automobile agreed to collaborate in various businesses. The agreed scope is wide and will also cover smart digital platforms, automotive intelligent driving solutions, AR-HUD, smart lights for vehicles, intelligent car cabins, and smart vehicle clouds.
It was agreed that Huawei would provide relevant technologies, personnel, assets, and other necessary resources to the JV firm it established with Changan Auto. While the percentage of shares in the company was already mentioned, the companies will discuss the specific equity ratio, amount of investment, and duration of the partnership.
Photo by: Huawei Newsroom
