Huawei Plans On Venturing Into The Smart Vehicle Sector
Huawei Plans On Venturing Into The Smart Vehicle Sector. Embattled Chinese tech giant Huawei on Monday vowed to weather wide-ranging US sanctions with a push into the intelligent vehicle sector and ramping up development of its own mobile phone ecosystem. The Chinese telecom plans to spend $1 billion in self-driving and electric cars, teaming up with Chinese auto makers to bring to market cars that would bear its logo, Bloomberg reported Monday. Rotating chairman Eric Xu said Huawei planned to invest one billion dollars in the projects — in cooperation with major Chinese automakers — of systems for electric vehicles and cars that use artificial intelligence.
“With these adjustments in portfolio, we are quite confident we can survive,” Xu told a gathering of industry analysts at company headquarters in the southern technology hub of Shenzhen. “So the overall strategy and specific measures of Huawei are all revolving around enabling us to survive and develop under the entity listing in the long term,” he said.
According to India Times, former US president Donald Trump in 2018 launched an aggressive campaign to isolate the company globally amid concerns that its telecom networking equipment installed worldwide could be used by China’s Communist Party government for espionage or sabotage.
China and Huawei have fiercely rejected the insinuation, saying the United States has never provided evidence. The measures against the company include barring it from the huge US market, cutting it off from global component supply chains and pressuring allies to ban or rip out Huawei gear from their national telecom systems.
Huawei Technologies Co. Ltd is a Chinese multinational technology company headquartered in Shenzhen, Guangdong. It designs, develops, and sells telecommunications equipment and consumer electronics. The company was founded in 1987 by Ren Zhengfei, a former Deputy Regimental Chief in the People’s Liberation Army. Initially focused on manufacturing phone switches, Huawei has expanded its business to include building telecommunications networks, providing operational and consulting services and equipment to enterprises inside and outside of China, and manufacturing communications devices for the consumer market.
