CHANGAN AVATR and HUAWEI sign an Equity Transfer Agreement to develop intelligent vehicles
AshleyAug 20, 2024, 04:23 PM
On the evening of August 19, CHANGAN announced that Avatr Technology is planning to sign a "Equity Transfer Agreement" with HUAWEI in Chongqing, China, on the morning of August 20. The agreement stipulates that Avatr Technology will purchase 10% of the shares in Shenzhen Yinwang Intelligent Technology Co., Ltd. held by HUAWEI, with a transaction amount of 11.5 billion RMB. Calculated based on the amount of capital contributed by Avatr Technology and its shareholding ratio, the valuation of Yinwang is 1150 billion RMB.
In short, Avatr Technology under CHANGAN will become an important partner of HUAWEI in the field of intelligent vehicles. This equity transfer marks a further deepening of the cooperation between CHANGAN and HUAWEI in the field of intelligent vehicles. The two parties will jointly promote the development of Shenzhen Yinwang and jointly create competitive intelligent vehicle solutions.
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