Hyperdrive
Changan Auto, Huawei Sign Memo to Set Up Smart-Car Systems Unit
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Chongqing Changan Automobile Co. signed a memorandum of cooperation with Huawei Technologies Co. to invest in a new company that would design and produce intelligent automotive systems and components, Changan Auto said in a statement to the Shenzhen Stock Exchange.
Huawei would set up the company, while Changan Auto would take a stake of up to 40% stake, the filing said.