Changan Group Reportedly Holds 10% Priority Purchase Right for Huawei’s New Automotive Unit, Avatr Could Increase Stake to 20%
BEIJING, August 25, 2024 – Changan Automobile Group, a major Chinese automaker, is reportedly holdinga 10% priority purchase right for shares in Shenzhen Yinwang Intelligent Technology Co., Ltd. (Yinwang), a newly established subsidiary of Huawei focused onintelligent vehicle technology. This revelation comes after Avatr, a joint venture between Changan, Huawei, and CATL, acquired a 10% stake in Yinwang for 11.5 billion yuan (approximately $1.6 billion).
According to Cailian Press, Changan could exercise its priority purchase right and invest an additional 11.5 billion yuan to acquire another 10% stake in Yinwang. There is also a possibility that Avatr could purchase the entire 10% stake, further increasing its ownership in Yinwang to 20%.
Yinwang, formally established on January 16, 2024, was initially wholly owned by Huawei. The company is dedicated to developing and providing intelligent automotive systems and components, playinga crucial role in Huawei’s ambitions in the smart car industry.
On August 20, Avatr announced the completion of its investment in Yinwang, becoming the second-largest shareholder. The partnership aims to jointly develop globally leading intelligent vehicles, leveraging Huawei’s expertise in technology and Avatr’s automotive manufacturing capabilities.
This news follows a previous announcement by Seres, a Chinese electric vehicle manufacturer, that its wholly-owned subsidiary, Seres Automobile, would acquire a 10% stake in Yinwang for 11.5 billion yuan. This transaction further underscores the strategic importance of Yinwang in the evolving landscape of the automotive industry.
The potential acquisition of a 20% stake in Yinwang by Avatr would solidify its position as a key player in the smart car market. This strategic move could enhance Avatr’s access to Huawei’s cutting-edge technology and accelerate itsdevelopment of intelligent vehicles.
Changan’s priority purchase right highlights the company’s commitment to the smart car sector and its desire to strengthen its partnership with Huawei. By potentially increasing its stake in Yinwang, Changan could gain a deeper involvement in Huawei’s automotive technology development and potentially leverage this expertise for itsown vehicle offerings.
This development signifies a significant shift in the Chinese automotive industry, with major players like Changan, Huawei, and Avatr actively collaborating to drive innovation in the smart car segment. The potential acquisition of a larger stake in Yinwang by Avatr could further accelerate the development of intelligent vehicles andcontribute to the growth of the global smart car market.
About Changan Automobile Group:
Changan Automobile Group is one of China’s largest and oldest automotive manufacturers, with a history spanning over 150 years. The company produces a wide range of vehicles, including passenger cars, commercial vehicles, andpowertrains. Changan has established joint ventures with several international automotive brands, including Ford, Mazda, and Suzuki.
About Huawei:
Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. The company is known for its expertise in telecommunications, cloud computing, and artificialintelligence. Huawei has been actively expanding its presence in the automotive industry, focusing on developing intelligent vehicle solutions and partnerships with automotive manufacturers.
About Avatr:
Avatr is a joint venture between Changan, Huawei, and CATL, established in 2021. The company focuses on developingand manufacturing premium electric vehicles with advanced intelligent features. Avatr’s first model, the Avatr 11, was launched in 2022 and features a range of innovative technologies, including Huawei’s autonomous driving system.
This news article is based on information from the provided text and publiclyavailable sources. It is subject to change as new information becomes available.
【来源】https://www.ithome.com/0/791/026.htm
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