Changan's Avatr Technology acquires 10% stake in Huawei's Yinwang Intelligent Technology for $1.6 billion
The deal between Changan Automobile's Avatr and Huawei's intelligent driving division aims to advance electric and smart vehicle technologies
Avatr Technology, a smart electric vehicle brand of Changan Automobile, has agreed to acquire a 10% equity stake in Huawei Technologies' intelligent driving division, Yinwang Intelligent Technology, for 11.5 billion yuan (about $1.6 billion), Yicai Global reported Aug. 20.
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