Avatr's Purchase of Huawei's Yinwang Equity and Changan's Subsequent Move

TapTechNews August 25th news, according to Cai Lian News, after Avatr purchased 10% of Huawei's Yinwang equity with 11.5 billion yuan (about 1.64 billion US dollars), Changan still has a 10% preemptive right to purchase, and later Changan will invest another 10% with the same price of 11.5 billion yuan (about 1.64 billion US dollars), and it is not excluded that Avatr will buy it all.

Yinwang is fully called Shenzhen Yinwang Intelligent Technology Co., Ltd. and was officially established on January 16, 2024. Initially, it was 100% owned by Huawei and is a subsidiary of Huawei dedicated to the development of the intelligent vehicle industry and providing automotive intelligent system and component solutions.

On August 20, Avatr officially announced that the investment agreement with Huawei Yinwang was signed and completed, becoming the second largest shareholder of Huawei Yinwang, and will work with Huawei to build a world-leading intelligent vehicle.

According to TapTechNews' previous report, Seres today released an announcement that the company's wholly-owned subsidiary Seres Automobile intends to purchase the 10.00% equity of Shenzhen Yinwang Intelligent Technology Co., Ltd. held by Huawei Technologies Co., Ltd. in the form of cash payment, and the transaction price is 11.5 billion yuan (about 1.64 billion US dollars).