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Sources say Huawei is inviting Mercedes-Benz and Audi to invest in its car company, aimed at expanding partnerships with Chinese car companies

2024-03-04 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >


Shulou( Report--, Dec. 11 (Xinhua)-- Huawei has sent invitations to Mercedes-Benz and Volkswagen-owned Audi to ask if they are interested in buying a small stake in its smart car software and hardware company, Reuters quoted three people familiar with the matter as saying.

Huawei's move is said to be aimed at expanding its partnership to brands outside China. Huawei also hopes the presence of foreign investors will help it fend off potential further sanctions, according to one of the people familiar with the matter.

Last month, Huawei signed a Memorandum of Investment Cooperation with Changan Automobile, announcing plans to set up a company engaged in the research, design, production, sales and service of automotive intelligent systems and components solutions, of which Changan contributed no more than 40%.

In response, Yu Chengdong, managing director of Huawei and chairman of BU, said that Huawei still leads the technology research and development direction of the new joint venture, and that Huawei's smart car business partners will join the joint venture one after another. Huawei has invited Cyrus, Chery, Jianghuai and BAIC, and hopes that China FAW Group will join.

A source said earlier that the division (car BU) would be valued at $28 billion to $35 billion ( Note: currently about 2010.4-251.3 billion yuan).

Huawei has held preliminary talks with Mercedes in recent weeks, according to two people familiar with the matter. One of the sources said the German car brand had acquired a stake of 3 to 5 per cent and that the valuation had yet to be agreed.

The source added that Mercedes was less interested because it wanted to maintain control of its software to maintain its high-end brand positioning rather than outsourcing it to third-party suppliers.

Audi and Huawei are planning to work together to develop self-driving technology for Audi models to be sold in China after 2025, according to two other people familiar with the matter. It is said that these technologies will be produced by a joint venture between German automakers and FAW Group.

Related readings:

Huawei officially announced its cooperation with Audi: working together to build an intelligent online car.

Talk to Audi's head of R & D in China: Huawei's autopilot program may be adopted.

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