The Strategist

Huawei to invest $1B in electric vehicle technology this year

04/13/2021 - 04:02

Huawei has said it plans to invest $1bn this year to develop technology for electric vehicles and an autopilot system. The company claims its autopilot is "far better than that of Tesla".

Kārlis Dambrāns
Kārlis Dambrāns
Huawei Technologies is investing $1 billion this year in the development of electric vehicles and autopilot technology, Bloomberg writes, citing the company's current chief executive, Eric Xu. 

According to him, Huawei's autopilot technology has already surpassed Tesla: the Chinese manufacturer's car can travel more than 1,000km without human intervention. "This is much better than that of Tesla," Xu said.

Initially, Huawei will build unmanned cars with three carmakers, Xu specified. He explained that the company would put its logo on cars that use its autonomous driving technology, as Intel does, for example. Chinese carmakers BAIC Group, Chongqing Changan Automobile and Guangzhou Automobile Group have partnered with the technology giant.

"The number of cars in China is increasing by 30 million every year, and that number is growing. Even if we don't enter the overseas market, if we can earn an average of 10,000 yuan (about $1,500) from every car sold in China, it is already very big business for Huawei," Xu said.