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Huawei to move smart car operations to new joint company with Changan
Economic Times
·
1y ago
Medial
Huawei is planning to transfer its smart car operations to a new joint company with Chinese automaker Changan. The move comes as Huawei seeks to expand its presence in the automotive industry and leverage its expertise in communications technology. The new company will focus on developing smart car components, intelligent driving systems, and other related technologies, marking Huawei's latest venture into the fast-growing electric vehicle market.
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Chinese automakers hit by production issues with Huawei computing unit, sources say
Reuters
·
1y ago
Medial
Chinese automakers, including Changan Auto, Chery Auto, and Seres, have faced delivery delays of flagship models due to production issues with a computing unit manufactured by Huawei. The unit, known as the MDC 810, powers advanced driver assistance systems and is essential for Huawei's ambitions in the smart electric vehicle market. The production problem is related to a shortage of a component for the MDC 810. The affected automakers are in talks to resolve the issue, while Huawei aims to secure more investors for its Intelligent Automotive Solution business unit.
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China's Huawei launches new software for intelligent driving
Economic Times
·
1y ago
Medial
Huawei has introduced a new software brand called Qiankun for intelligent driving, as it aims to establish a strong presence in the electric vehicle industry. Qiankun plans to offer self-driving systems including the driving chassis, audio, and driver's seat. Huawei's CEO of Intelligent Automotive Solution (IAS) business unit, Jin Yuzhi, stated that the company expects to have over 500,000 cars equipped with the Huawei self-driving system on the road by the end of 2024. Huawei launched its smart car unit in 2019 and intends to become a leading supplier of software and components for intelligent EVs.
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Huawei approaches Audi, Mercedes on smart car investment
Economic Times
·
1y ago
Medial
Chinese technology giant Huawei has reportedly approached Mercedes Benz and Volkswagen's Audi to assess their interest in buying small stakes in its smart car software and components firm. The move is aimed at expanding partnerships beyond Chinese brands and potentially safeguarding the business from geopolitical tensions. Huawei aims to become a dominant supplier of software and components for smart electric vehicles (EVs) and plans to spin off its Intelligent Automotive Solution (IAS) business unit. Mercedes has shown limited interest as it prefers to control its own software, while Audi's level of interest remains unclear.
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China's Changan in talks to take over struggling EV maker Human Horizons, report says
Reuters
·
1y ago
Medial
China's Chongqing Changan Automobile is reportedly considering acquiring struggling Chinese electric vehicle manufacturer Human Horizons, according to financial news outlet Yicai. Changan Chairman Zhu Huarong met with Human Horizons founder Ding Lei on 27 February, although neither company has confirmed the talks. Human Horizons recently announced a six-month suspension of operations after the Ministry of Investment of Saudi Arabia cancelled a $5.6bn investment plan. Human Horizons currently sells three Hiphi-branded electric vehicle models in China.
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Biden administration is investigating security threats from Chinese vehicles
The Verge
·
1y ago
Medial
The US government is launching an investigation into the potential national security risks associated with smart car technology produced in China and other countries of concern. The probe will focus on connected vehicles, aiming to address concerns about the collection of sensitive data by cameras, sensors, and on-board computers. The investigation will potentially lead to new regulations and restrictions on certain vehicle parts being used in the US. This move echoes previous actions taken against companies like Huawei and TikTok over national security concerns. China has accused the US of abusing the concept of national security to impede competition.
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Renault to invest $320 million, hire 550 workers to make electric vans in Northern France
Reuters
·
1y ago
Medial
French car maker Renault has announced plans to invest €300 million ($323.25 million) in its assembly plant in Sandouville, France, to manufacture new-generation electric vans from 2026. The project is part of Renault's electric vehicle unit, Flexis, a joint venture with Volvo and CMA CGM. Renault will also be adding 550 staff members to its current workforce of 1,850 over the next four years. This move comes after regulatory approval was obtained to officially launch the joint venture between Renault and Volvo, with CMA CGM expressing interest in investing up to €120 million.
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After years of survival, China's Huawei returns to revenue peak
Economic Times
·
5m ago
Medial
Huawei is expected to report strong revenues nearing its 2020 peak, overcoming U.S. sanctions through diversification into software and smart-driving technologies. The company expanded into building 5G infrastructure, energy storage, and autonomous driving tech, partnering with Chinese automakers. Huawei's resilience is also reflected in creating its own operating system, HarmonyOS, and advanced chips. As it aims to integrate AI into services and compete internationally, especially in smartphones and data infrastructure, Huawei continues its innovation-driven recovery.
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CDPQ-controlled Azure Power scouts for JV partner for green energy assets
VCCircle
·
3m ago
Medial
Azure Power Global Ltd, controlled by Canadian pension funds CDPQ and the Ontario Municipal Employees Retirement System, is seeking a joint venture partner in India to manage its renewable energy assets. This move aims to stabilize operations following a bribery scandal and governance challenges. The company hopes to leverage a new partnership to enhance oversight and improve its standing in the renewable energy sector.
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Tata in talks with Pegatron to set up iPhone assembly in Tamil Nadu: Report
Livemint
·
1y ago
Medial
Indian conglomerate Tata Group is reportedly in advanced discussions with Taiwan's Pegatron to establish a joint venture for manufacturing iPhones in Tamil Nadu. By partnering with Pegatron, Tata aims to accelerate its plans to start iPhone production, while also helping Apple expand its operations in India. The joint venture would see Pegatron providing technical and engineering support at the new assembly plant in Hosur City. This move would allow Apple to diversify its manufacturing beyond China and mitigate the impact of US-China tensions on its business.
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Zoomcar announces debt restructuring with focus on financial stability
YourStory
·
10m ago
Medial
Indian self-drive car sharing platform, Zoomcar, is undergoing debt restructuring to reduce its outstanding debt of around $31 million. The company has negotiated with lenders and vendors to reduce 75% of their immediately payable debt, either through deferred payment schedules or reduced payouts. The restructuring is aimed at decreasing cash outflow and investing in long-term sustainability and value. Zoomcar offers car rental services in Bengaluru and has received investments from Peak XV, Ford Smart Mobility, Nexus Venture Partners, and Mahindra & Mahindra. The company recently launched a new app with enhanced features for guests and hosts.
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