China's Huawei and Changan Auto to form joint auto systems venture

BEIJING - Huawei (HWT.UL) has joined with Chinese carmaker Chongqing Changan Automobile (000625.SZ) to set up a company engaged in the research and development, design, and sales of intelligent automotive systems and component solutions, according to a Sunday filing on the Shenzhen Stock Exchange.

"The two parties will jointly support the target company to become an industry leader in automotive intelligent systems and component solutions based in China," the filing from Changan Auto said.

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