Changan Automobile and Huawei cooperate to establish a new company to jointly promote the development of automotive intelligent systems

Changan Automobile and Huawei signed a memorandum of investment cooperation, intending to jointly invest in the establishment of a company focusing on automotive intelligent systems and component solutions. The company will be committed to research and development, design, production, sales and services, with the goal of becoming a global leader in automotive intelligent systems and component solutions. Currently, the two parties are negotiating key terms of the transaction and are expected to sign the final transaction documents no later than August 31, 2024.