Huawei and Changan Auto jointly opens new firm named ‘NEW COOL’

Huawei and Changan Auto Corporation have jointly opened a new firm and have named it “NEW COOL”. The latest joint venture will count brand-new smart automobile systems, smart cockpits, digital features, car cloud networks, head-up displays, smart car lights, and relative car components.

According to the details, Huawei, and Changan Auto signed an Investment Cooperation Memorandum in November 2023 for the new firm “NEW COOL”. The agreement aims to bring innovative smart car solutions to the automobile market.

The information further reveals that Huawei won’t indulge completely in the car manufacturing business. Instead, it will look after other aspects like R&D operations, design, production, and delivery of smart car solutions.

On the flip side, the Chinese tech maker plans to own around 40% stake in the new company. Huawei only desires to integrate its resources into the new business. This action will help the company to become a world-class automobile industry leader.

During the announcement ceremony of the new firm, the Chairman of the Changan Automobile Corporation – Zhu Huarong kept the business intentions:

“It took only three months from the presentation of the intention to cooperate to the signing of the investment memorandum. Both parties want to work together to help China’s automobile industry rise in the field of vehicle intelligence.”

(Via)