Huawei and SERES ink strategic cooperation over Newcool automobile unit

SERES is further deepening its partnership with Huawei by signing a new strategic cooperation over the Newcool automobile unit. After Avatr, the AITO car manufacturer aims to purchase some stakes in Huawei’s automobile solutions franchise.

On August 23, Huawei and SERES inked a strategic cooperation agreement for the Newcool firm. Under the agreement, the Chinese car maker will purchase a 10% stake in the respective automobile company worth $1.6 billion (11.5 billion yuan).

The automaker said to support Huawei smart car solutions and the firm’s growth along with other partners in the Newcool. SERES also talks about the AITO brand (powered by Huawei) that has achieved immense support from consumers.

After fruitful results with AITO SUVs, SERES seeks to invest in the Newcool company to initiate a business + equity cooperation with Huawei. The carmaker sees this deal as a sustainable path for both parties under the smart car solutions umbrella.

Xu Zhijun – the Rotating Chairman of Huawei adds that the new cooperation between SERES and Huawei will be a major progress for Newcool. The firm will provide AITO with more excellent solutions, making it a lovable brand for global consumers as well.

Huawei and SERES ink strategic cooperation over Newcool automobile unit (Image Credits: Huawei)

Describing more, Xu Zhijun says

“We will continue to help auto companies to ‘build good’ cars, make good cars, and sell good cars. Newcool will continue to open equity to strategic partners and work together to promote the rise of the automobile industry.”.

It is worth mentioning that Avatr has already signed a deal with Huawei to hold 10% of Newcool auto company. Now SERES is the second shareholder in Huawei automobile unit with a 10% stake. Hence, Huawei is the owner of 80% stake in Newcool.

The signing ceremony took place in the presence of the Chairman of Huawei Automotive Solutions Business Group Yu Chengdong, Chairman of SERES Group Zhang Xinghai, as well as other senior executives. The event was held in Shenzhen.

With the new agreements between Huawei and automakers, Newcool will provide dynamic smart car solutions for driving, smart cockpit, car control, cloud computing, and more.