Chinese tech giant Huawei to pump in $1 billion on car tech in 2021




Chinese technology giant Huawei, which is focusing on ptimising its portfolio to boost business resilience, will invest $1 billion in smart car technologies in 2021, the media reported.


The new investment that the company is making this year will focus on building components for smart vehicles, including software platforms for self-driving cars, CGTN reported on Tuesday, citing Huawei’s Rotating Chairman Eric Xu.


Speaking at Huawei’s 18th Global Analyst Summit in Shenzhen on Monday, Xu said that will strengthen its software capabilities and invest more in businesses that are less reliant on advanced process techniques, as well as in components for intelligent vehicles.


faced a tough year last year as restrictions imposed by the US impacted its smartphone business and increased scrutiny of its 5G technologies.


Xu said that will maximise 5G value and define 5.5G with industry peers to drive the evolution of mobile communications and innovate to reduce energy consumption for a low-carbon world.


“Rebuilding trust and restoring collaboration across the global semiconductor supply chain is crucial to bringing the industry back on track,” Xu said.


The Huawei’s Rotating Chairman predicted that many of the challenges the world is facing today will continue for some time to come.


“Moving forward, we will continue to find ourselves in a complex and volatile global environment,” Xu said said.


“Resurgence of Covid-19 and geopolitical uncertainty will present ongoing challenges for every organisation, business, and country.”


–IANS


gb/na

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *