GAC Group, a Chinese automaker, has joined forces with tech giant Huawei Technologies to launch a new high-end car brand, according to a recent announcement.
GAC has invested 1.5 billion yuan (approximately $207.46 million) in the new venture, as reported on WeChat. This strategic partnership aims to combine GAC’s automotive expertise with Huawei’s technological prowess to create a competitive offering in the premium car market.
This move follows a trend of increasing collaboration between Chinese automakers and tech companies as the industry shifts towards electric and connected vehicles. The partnership is expected to leverage Huawei’s strengths in areas like artificial intelligence, software, and 5G technology to enhance the capabilities and appeal of the new car brand.
This news was reported by Yukun Zhang and Ryan Woo. The information follows the Thomson Reuters Trust Principles.
