Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Technology
Anusuya Lahiri

Huawei Aims To Spend $633M On Digital Energy HQ, R&D Center

  • Huawei Technologies looks to spend CNY4 billion ($632.52 million) on building a new headquarters and R&D center for its digital power unit, Reuters reports.
  • Huawei Digital Power inked an agreement on February 17 with the local government of the southern metropolis of Shenzhen, where its parent is headquartered, for the project.
  • Huawei has been trying to diversify its portfolio beyond its core telecoms and smartphone businesses hit hard by U.S. export restrictions in recent years.
  • Huawei's U.S. suppliers included Microsoft Corp (NASDAQ:MSFT), Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, Intel Corp (NASDAQ:INTC), Qualcomm Inc (NASDAQ:QCOM), and Meta Platforms Inc (NASDAQ:FB) before the U.S. banned it citing security threat
  • In January, Huawei Digital Power and China Resources Power Holdings Co Ltd agreed to develop clean energy projects. China Resources Power operates coal-fired power plants across China.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.