Huawei's automotive business revenue will double in 2023, with cumulative R&D investment exceeding 30 billion yuan

Huawei's 2023 annual report shows that its smart car business revenue has increased significantly, becoming Huawei's fastest growing business segment. In 2023, the revenue of the smart car solution business reached 4.77 billion yuan, a year-on-year increase of 128%, and its share of Huawei's total revenue increased from 0.3% in 2022 to 0.6%. Since the establishment of the Smart Car Solutions BU in May 2019, Huawei's cumulative R&D investment in this field has exceeded 30 billion yuan, and the size of the R&D team has reached 7,000 people.