Huawei's Inwang Standards for Investing in Automakers and Ongoing Developments
TapTechNews September 22nd news, according to Sina Hummingbird report, when Huawei's Rotating Chairman Xu Zhijun was interviewed and asked about the'standard for investing in enterprises'.
To this, Xu Zhijun said: 'Automakers that have used the products and solutions of Inwang are definitely the preferred objects. The objects introduced by Inwang are automakers, not financial investors. The investors introduced by Inwang must be strategic investors, and the investors are closely combined with Inwang, sharing risks and benefits together.'
TapTechNews noted that on August 25th, Seres issued an announcement that the company's wholly-owned subsidiary, Seres Automobile, intends to purchase the 10% equity of Shenzhen Inwang 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 ($1.64 billion). Before that, on the morning of August 20th, Changan Automobile's Avita Technology signed the 'Equity Transfer Agreement' with Huawei in Chongqing, agreeing that Avita Technology would purchase the 10% equity of Inwang held by Huawei, and the transaction amount is also 11.5 billion yuan ($1.64 billion).
In early September this year, relevant people from Huawei disclosed to the Shanghai Securities News that Inwang Company is currently controlled by Huawei in the short term. However, the investment cooperation of Inwang is open to all automakers. The relevant cooperation between Huawei and automaker partners such as BAIC Blue Valley and JAC Motors is currently under negotiation.
According to TapTechNews' previous report, Shenzhen Inwang Intelligent Technology Co., Ltd. was officially established on January 16th. The company's business scope includes intelligent on-board equipment manufacturing, auto parts research and development, artificial intelligence industry application system integration services, artificial intelligence basic software development, artificial intelligence theory and algorithm software development, communication equipment manufacturing, data processing and storage support services, information consulting services, etc. The company's registered address is located in the office building of Huawei headquarters.