SERES Announces Investment in Huawei’s Automotive Intelligent Driving Systems and Components Subsidiary
SERES, the automaker behind the AITO new energy vehicle brand, has revealed its plans to invest in Shenzhen Yinwang Intelligent Technology Co., Ltd., a wholly-owned subsidiary of Huawei Technologies Co., Ltd. specializing in automotive intelligent driving systems and components.
The announcement, made on July 28, signifies SERES’ commitment to supporting Shenzhen Yinwang in becoming a global leader in automotive intelligent driving technology. The investment aims to transform Shenzhen Yinwang into an open platform serving the automotive industry, with the specific details of the investment amount, transaction method, and price to be finalized upon the signing of the final agreement. Once the transaction is completed, Shenzhen Yinwang will become an associate company of SERES without impacting SERES’ financial statements.
Shenzhen Yinwang was established on January 16 of this year and is based at Huawei’s headquarters in Shenzhen’s Longgang District. The company, formed by Huawei’s Intelligent Automotive Solutions BU, integrates cutting-edge technologies and resources to develop a diversified and open technology platform. Its scope of business includes the development, design, production, sales, and service of automotive intelligent systems and components such as intelligent driving solutions, intelligent cockpits, smart vehicle control, smart vehicle cloud, and in-car optics.
In addition to SERES’ investment, Changan Automobile has also shown interest in collaborating with Huawei by signing a memorandum of investment cooperation with the intention of becoming a strategic partner and shareholder in Shenzhen Yinwang. The final agreement between Changan Automobile and Huawei is expected to be signed by August 31 of this year.
This strategic move by SERES and Huawei underscores the growing importance of intelligent driving technology in the automotive industry and paves the way for innovative developments in smart vehicle solutions. Stay tuned for more updates on this exciting partnership.
