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Tentatively named "Newcool"! Changan Huawei sets up a new joint venture

2024-04-13 Update From: AutoBeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)03/03 Report--

Zhu Huarong, chairman of Changan Automobile, said at the 2024 Changan Automobile Global Partnership Conference that the new joint venture between Changan and Huawei will be tentatively named "Newcool". It is understood that at present, Changan and Huawei are promoting the details of transaction cooperation, including the establishment of the new company.

As early as November 26 last year, Changan Automobile signed a Memorandum of Investment Cooperation with Huawei in Shenzhen. After negotiations, Huawei plans to set up a new company to focus on the research, production, sales and service of intelligent driving systems and incremental components of smart cars. According to the memorandum, Huawei intends to integrate the core technologies and resources of its smart car solutions business into the new company, and Changan Automobile and related parties will intend to invest in the company and work with Huawei to support the company's future development. At that time, Zhu Huarong said: "Changan Automobile and Huawei will make use of their respective advantages and resources to accelerate the large-scale commercialization of intelligent technology, so as to promote Chinese automobile brands to become world-class." Xu Zhijun, the rotating chairman of Huawei, also stressed: "Huawei insists on not building cars, but giving full play to its ICT technical advantages and marketing capabilities to help car companies build and sell good cars."

At the conference, Zhu Huarong stressed that in the agreement between Huawei and Changan Automobile, Huawei promised not to engage in the whole vehicle business and not to engage in the business within the new company. The new joint venture will cover seven areas: smart driving, intelligent cockpit, smart car digital platform, smart car cloud, AR-HUD and smart lights.

In fact, Huawei has stated many times that it will not build cars, but will enter the automobile market with Hongmeng Zhihang, and set up Zhanjie and Zhijie brands with Cyrus and Chery. At present, Huawei Hongmeng Zhihang model has launched the M5, M7, M9 and S7 models, and Huawei will also set up other "boundary" brands with BAIC and Jianghuai. According to media reports, Huawei and BAIC Smart car model cooperation brand identified as "enjoy the world", the first model positioning of medium and large cars, is expected to be officially released before the Beijing auto show in April this year; the smart car brand in cooperation with Jianghuai is designated as "arrogant", and the first model will be released in the fourth quarter of this year. However, as of press time, the authorities have not yet confirmed the news, and whether it will eventually be named remains to be confirmed by the official announcement.

The partnership between Changan Automobile and Huawei may help Changan Automobile accelerate its transformation into new energy sources. It is worth mentioning that in recent years, Changan Automobile has made slow progress in the electric transformation, and the market competition is becoming more and more fierce. With regard to the development of the new energy market, Wang Jun, president of Changan Automobile, said that the window for the restructuring of new energy vehicles has been closed and is about to enter an era of rapid and stable reduction, and 90% of car brands are expected to close down and merge.

According to the plan, Changan Automobile will launch eight new new energy products this year. With more products on the market, Changan Automobile Group will sprint its annual target of 3.5 million-4 million vehicles by 2025, an increase of 32% compared with the same period last year. As for this year's sales target, Zhu Huarong said that the next two years will be a period of great opportunity for Changan Automobile. This year, Changan Automobile will sprint for the sales target of 2.8 million vehicles, of which new energy sales will exceed 750000, of which Changan Automobile will bear 1.25 million; Changan Qiyuan 250000, Deep Blue 280000, Avita 90, 000, Changan Kacheng 230000, while overseas markets will bear 480000.

From the perspective of sales target, Changan Automobile Group's sales target for the New year is still relatively "radical". As for how much driving effect the new model can bring to Changan Automobile Group's sales, it needs an answer from the market. For reference, in 2023, Changan automobile sales were 2.5531 million, up 8.82% from the same period last year; independent brands increased 11.91% to 2.0978 million; independent passenger vehicles increased 14.86% to 1.597 million; overseas sales of independent brands increased 39.23% to 236400; in addition, self-brand new energy sales increased by 74.77% to 474000 vehicles.

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