Embattled Chinese tech giant Huawei Technologies Co (華為) yesterday said it would weather wide-ranging US sanctions with a push into the intelligent vehicle sector and by ramping up the development of its own mobile phone ecosystem.
Huawei plans to invest US$1 billion to develop systems for electric vehicles, as well as vehicles that use artificial intelligence — in cooperation with major Chinese automakers, rotating chairman Eric Xu (徐勇) said.
It also plans to push ahead in developing applications in cloud computing and in the software business for the advent of super-fast 5G networks, he said.
Photo: Reuters
“With these adjustments in [our] portfolio, we are quite confident we can survive,” Xu told a gathering of industry analysts at Huawei’s headquarters in Shenzhen.
“The overall strategy and specific measures of Huawei are all revolving around enabling us to survive and develop under the [US] entity listing in the long term,” he said.
Former US president Donald Trump’s administration added Huawei to the US’ Entity List, requiring that US firms obtain government licenses if they want to sell US tech and intellectual property to the firm.
Huawei is the world’s largest supplier of telecom networking gear and has long been a top-three smartphone supplier along with Apple Inc and Samsung Electronics Co.
However, it late last year tumbled out of the top three after sales plummeted due to difficulty accessing necessary components as a result of US sanctions, industry trackers have said.
AUTO SHOW
State-owned automaker BAIC Group (北京汽車集團) plans to unveil a new model of its ArcFox electric-vehicle line at next week’s Shanghai Auto Show, Chinese media have reported.
Huawei provided operating components for the new vehicle, the reports said.
Xu said Huawei also has plans to cooperate with other Chinese automakers on electric or intelligent vehicles, a fast-growing market in C Additional reporting by Bloomberg
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