Huawei To Invest $1 Billion on Car Tech It Says Surpasses Tesla

Huawei will invest $1 billion on researching self-driving and electric-car technologies, accelerating plans to compete with Tesla and Xiaomi in the world's biggest vehicle arena. From a report: Huawei's autonomous-driving technology has already surpassed Tesla's in some spheres, for instance by allowing cars to cruise for more than 1,000 kilometers (621 miles) without human intervention, Rotating Chairman Eric Xu told analysts in Shenzhen Monday. The Chinese telecom giant will partner with three automakers initially to make self-driving cars that carry the Huawei name as a sub-brand, said Xu, one of three executives who take turns to fill the post. It will keep its circle of partners small and get its logo onto cars -- not unlike how Intel calls attention to its microprocessors on PCs -- that adopt its autonomous driving technology, he added. The mobile giant has so far agreed to team up with BAIC Group, Chongqing Changan Automobile and Guangzhou Automobile Group.

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