Huawei denies rumors of purchasing automobile company shares

Huawei has officially stated that the rumors about its investment in an automobile company were just a rumor and it’s true. The Chinese tech giant has not invested in any car company so far.

The company has clearly stated that it has not invested in any car company and neither it will invest in the future. Besides denying building a car, Huawei also said at the China Automobile Industry Development Summit Forum in June that it had multiple reasons for not building a car.

Avita Technology is a subsidiary of Changan Automobile, which is listed on Changan United Asset and Equity Exchange. This company is planning for 2-3 strategic investors through the public listing to increase capital and shares.

Changan Automobile once said that Huawei along with Avita Technology will jointly contribute with a full value chain link in R&D, channels, services, ecology, and more. This can also mean that Avita Technology products will be sold by Huawei outlets.

At the China Automotive Industry Development Summit Forum, Huawei has presented multiple considerations for not building cars. And currently, Huawei does not have the ability or strength to build cars.

Huawei partners with GAC, plan for fully smart electric autonomous vehicle by 2023 

Huawei and GAC group has officially announced their partnership and these two companies are working on a new smart car integrated with the Huawei Smart car solution.

Both of these tech firms aim to enter mass production by the end of 2023. Though Huawei denies the rumors regarding the automobile, the company always keeps doing its research on several new techs to make electric vehicles more productive.

The upcoming SUV will be a pure electric vehicle along with autonomous driving Level 4. IT will be using power-efficient and futuristic technologies of Huawei and resources of GAC.

(Via – IT Home)