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Huawei established a wholly-owned subsidiary, Yinwang Intelligent Technology, with a registered capital of 1 billion yuan. Its business scope covers intelligent vehicle equipment manufacturing, auto parts research and development, artificial intelligence industry application system integration, etc.
The company’s legal representative, Zheng Liying, is headquartered at Huawei’s headquarters, and the two main members are both Huawei executives. This move is seen as a step towards creating an open platform for electric vehicles. The new company will form a joint venture with Changan Automobile and gradually open up equity to strategic partners.
Huawei has also invited automobile manufacturers such as Cyrus, Chery, JAC, and BAIC to participate in the company, striving to establish a diversified technology open company, and is expected to become a leader in China’s smart car field.
(Source: enanyang Image source: unsplash)
