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Caixin Global
Caixin Global
Business
An Limin and Han Wei

Huawei’s Smart Car Unit Valued $16 Billion After Investment From Avatr

Huawei CATL
Huawei in January established Yinwang, which is dedicated to developing intelligent car systems and components, with a registered capital of 1 billion yuan

The valuation of Huawei Technologies Co. Ltd’s smart car unit has surged to 115 billion yuan ($16 billion) only seven months after its launch, following a recent investment.

Yinwang Intelligent Technology Co. Ltd., a wholly-owned subsidiary of Huawei founded in January, has agreed to sell a 10% stake to Avatr Technology Inc., an electric vehicle (EV) startup backed by China’s state-owned automaker Chongqing Changan Automobile Co. Ltd. (000625.SZ) and battery giant Contemporary Amperex Technology Co. Ltd. (CATL)

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