Changan Automobile and Huawei signed a memorandum of investment cooperation and plan to establish a new company focusing on intelligent connected vehicles

On November 26, 2023, Changan Automobile issued an announcement announcing that it had signed an Investment Cooperation Memorandum with Huawei in Shenzhen. According to the memorandum, Huawei plans to establish a new company to focus on the research and development, production, sales and service of intelligent driving systems and incremental components for intelligent connected vehicles. Changan Automobile and its affiliates plan to invest in acquiring no more than 40% of the equity of the new company.