The introduction of a new brand of intelligent driving software was the latest action taken by Chinese tech giant Huawei to position itself as a major participant in the electric vehicle industry.
The latest move by Chinese tech giant Huawei (HWT.UL) to establish itself as a key player in the electric car market was the unveiling of a new intelligent driving software brand on Wednesday.
At an event held ahead of the Beijing auto show, Jin Yuzhi, CEO of Huawei’s Intelligent Automotive Solution (IAS) business unit, announced plans to provide self-driving systems involving the driving chassis, audio system, and driver’s seat under the new brand Qiankun, which combines the symbols of heaven and the Kunlun Mountains.
“2024 will be the first year for mass commercialization of smart driving, and the cumulative number of cars on the road equipped with the Huawei self-driving system will top 500,000 by year-end,” Jin stated.
Additionally, he anticipated that over ten car models would use Huawei’s Qiankun system in less than a year.
The Shenzhen-based tech giant established its smart car division in 2019 with the goal of becoming the intelligent EV era’s Bosch, the German automotive supplier, and providing partners with software and parts.
In November, Huawei said that the division will be split off into a new business that will acquire its key technology and resources, as well as funding from partners like Changan Auto (000625.SZ).
In collaboration with Chinese automakers, it has also so far revealed seven EV vehicles, all of which Jin claimed are doing well on the sales front.
These consist of the Luxeed S7 sedan, which was co-developed with Chery (CHERY.UL), two models with Changan Auto-backed Avatr, one with Beijing Automotive Group (BAIC)-owned Arcfox, and three Aito brand cars under partnership with Seres.
Huawei also presented the S9 sedan on Tuesday, which is the first model under the high-end Stelato brand that it launched alongside BAIC.
Its move into EVs coincides with a price war that is getting more intense in the largest car market in the world, which is struggling with declining sales momentum and growing overcapacity issues as over 40 companies compete for consumers’ attention.
Up until the end of April, Huawei-backed Aito was offering discounts on its new M7 SUVs of up to 20,000 yuan ($2,760).
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