Huawei, Changan seek further cooperation

Avatr Technology (Chongqing) Co, a subsidiary of China Changan Automobile Group Co, on Aug 20 signed a strategic cooperation agreement with Shenzhen Yinwang Intelligent Technology Co, a Huawei subsidiary in Liangjiang New Area. 

Under the agreement, Changan Automobile and Huawei will upgrade their strategic cooperation in brand and ecosystem development, cloud and AI technology, green energy, and industry chain collaboration. 

Avatr will acquire a 10 percent stake in Yinwang for 11.5 billion yuan ($1.61 billion), making it the second-largest shareholder. 

Avatr also revealed plans to sign a cooperation agreement with Yinwang, covering joint brand marketing, product definition and design, priority implementation of core technologies, and co-creation of intelligent experiences. 

Chen Zhuo, president of Avatr, said this investment will further strengthen strategic collaboration, allowing Avatr to receive substantial strategic support from Yinwang and Huawei. 

Xu Zhijun, Huawei's rotating chairman, emphasized that Avatr's investment marks a crucial step in Huawei's vision of developing Yinwang into an open platform for automotive industry intelligence. 

With the support of Huawei and other partners, Changan Automobile's cumulative sales from January to July reached over 1.5 million units, a 5.71 percent increase from last year. Sales of its brands totaled more than 1.26 million units, up 5.82 percent, and sales of new energy vehicles in July alone reached 45,418 units, an increase of 14.94 percent.