Huawei Technologies has completed registration of a new company dedicated to developing intelligent car systems and components, according to corporate database Tianyancha, solidifying the latest push by the Chinese tech giant to grow its fledgling smart auto business, reports Caixin. The new firm, named Shenzhen Yinwang Intelligent Technology, was set up Tuesday with a registered capital of RMB 1 billion ($140 million), according to Tianyancha. It is 100% owned by Huawei.
Its business scope includes smart in-car equipment production, auto component development, artificial intelligence-powered application system integration services and algorithm software development, according to Tianyancha.
The move could inject impetus into the company’s efforts to further expand its Smart Selection ecosystem, under which Huawei is exerting greater influence over the development and marketing of its auto partners’ cars.