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SERES reportedly plans to invest in Huawei smart car solutions business
SERES is planning to invest in Huawei smart car solutions business, as per a new report. The carmaker is looking to buy shares of Shenzhen Yinwang Intelligent Technology. If the deal gets penned, the respective firm will become a subsidiary of SERES.
Huawei established the Yinwang Intelligent Technology in January 2024 with a capital of 1 billion yuan. It targets the production and sales of smart car solutions, equipment, spare parts, and other components required to develop an electric vehicle.
The report reveals that SERES shared its investment plan yesterday. The automaker is already talking with Yinwang Intelligent Tech on this topic. A major aim of the investment is to raise the Shenzhen firm and make it a better smart car solution company.
AITO maker also hopes to see Yinwang Technology as an open solution provider for its smart cars. In this way, SERES will get more help to build better automobiles and could soon become the leader in intelligent driving systems as well as advanced auto parts.
Inputs further reveal that the new deal will lead Yinwang to become the subsidiary of the SERES. But this agreement won’t change the scope of combined accounts.
SERES reportedly plans to invest in Huawei smart car solutions business (Image Credits: Huawei Central)
Another piece of information on this topic states SERES market value increased by 2 billion after its plan to invest in Huawei smart car solutions went online. The 5.3% share immediately touched the 6.4% bar this morning on the trading screen.
The story began last year when Huawei called out its automobile partners to buy shares in its automotive solutions business. After months, SERES appeared as the first to lead in this subject. However, the automaker has not disclosed the amount yet.
In November 2023, the Chinese tech giant joined forces with Changan Auto for “Investment Cooperation”. Following this cooperation, SERES also mentioned that it obtained an invitation to acquire shares and has initiated a discussion on it with Huawei.
Now SERES seems ready to enter this cooperation. As per the reports, the company confirmed the new plan via a document surfing on the internet.
SERES investment plan document (Image Credits: MyDrivers)
(Via)
