SpaceX CEO Elon Musk Denies Reports of $800 Billion Valuation Fundraise 
Tesla Faces 19% Drop in UK Registrations as Competition Intensifies 
Australia Releases New National AI Plan, Opts for Existing Laws to Manage Risks 
U.S.-EU Tensions Rise After $140 Million Fine on Elon Musk’s X Platform 
ByteDance Unveils New AI Voice Assistant for ZTE Smartphones 
AI-Guided Drones Transform Ukraine’s Battlefield Strategy 
IKEA Expands U.S. Manufacturing Amid Rising Tariffs and Supply Chain Strategy Shift 
Hikvision Challenges FCC Rule Tightening Restrictions on Chinese Telecom Equipment 
Apple Alerts EU Regulators That Apple Ads and Maps Meet DMA Gatekeeper Thresholds 
ExxonMobil to Shut Older Singapore Steam Cracker Amid Global Petrochemical Downturn 
Proxy Advisors Urge Vote Against ANZ’s Executive Pay Report Amid Scandal Fallout 
Nexperia Urges China Division to Resume Chip Production as Supply Risks Mount 
Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman 
Lockheed Martin Secures $1.14 Billion Contract Boost for F-35 Production 
EU Prepares Antitrust Probe Into Meta’s AI Integration on WhatsApp 
Coupang Apologizes After Massive Data Breach Affecting 33.7 Million Users 
OpenAI Moves to Acquire Neptune as It Expands AI Training Capabilities 
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
