TapTechNews reports on May 11 that Changan Automobile is actively focusing on the power and platform technologies related to flying cars, engaging in both common and advanced technology research.
Changan Automobile explained that the company belongs to the automobile manufacturing industry, primarily covering whole vehicle R&D, manufacturing, and sales, along with the R&D and production of engines.
In addition, the company is actively developing new business areas such as mobility services, automotive life services, new marketing, battery swapping services, and is exploring industrial finance and second-hand car markets to establish a more comprehensive industry ecosystem.
Recently, Changan also announced updates on its investment cooperation memorandum with Huawei, revealing the latest progress in the investment cooperation project between the two companies.
According to the announcement, the various tasks involved in the project with Huawei are actively progressing. As of the date of announcement disclosure, the company has almost completed the financial, legal, business, and technical due diligence for this project. Currently, the two parties are negotiating further on key transaction terms, with the final transaction documents expected to be signed by no later than August 31, 2024.
On January 16, 2024, Huawei completed the registration of the target company named Shenzhen Yingwang Intelligent Technology Co., Ltd., primarily involved in automotive intelligent driving solutions, intelligent cockpits, digital platforms for smart vehicles, intelligent vehicle clouds, AR-HUD, and smart vehicle lights.
As previously reported by TapTechNews, insiders mentioned that Yingwang is a new company established by Huawei’s Car BU, marking the first step of Huawei’s smart car business in better serving the industry. The company is currently fully owned by Huawei but plans to become a technology open platform with diversified shareholding as more partners join. The target and strategy of the company are still being sorted out, and official announcements are to wait.
On November 25 last year, Changan Automobile and Huawei signed an investment cooperation memorandum. After negotiations, Huawei intends to establish a new company focusing on the R&D, production, sales, and services of intelligent network-connected car driving systems and incremental components.