On August 20, Huawei and Changan Automobile held a comprehensive strategic cooperation and AVATR investment introduction signing ceremony in Chongqing.

According to Changan Automobile's announcement the previous day (August 19), AVATR Technology will purchase a 10% stake in Shenzhen Intelligent Vision Technology Co., Ltd. (hereinafter referred to as "Intelligent Vision"), held by Huawei, for a transaction amount of 11.5 billion yuan.

Based on AVATR's investment amount and shareholding ratio, Intelligent Vision's valuation is 115 billion yuan.

After this transaction, AVATR Technology holds a 10% stake in Intelligent Vision, while Huawei holds a 90% stake. According to the transaction agreement, the board of directors of Intelligent Vision consists of 7 members, of which Huawei has the right to nominate 6 directors, and AVATR Technology has the right to nominate 1 director.

On November 26 last year, Changan Automobile and Huawei signed a Memorandum of Investment Cooperation in Shenzhen. After consultation between the two parties, Huawei plans to establish a new company with a business scope that includes intelligent driving solutions, smart cockpits, intelligent vehicle digital platforms, smart car clouds, AR-HUD, smart headlights, and more. At the same time, Huawei will inject relevant technologies, assets, and personnel dedicated to the new company's business scope, while Changan Automobile and its affiliates plan to invest to acquire equity in the target company, with a proportion not exceeding 40%.

Two days later, on November 28, Yu Chengdong, Executive Director of Huawei and Chairman of the Intelligent Automotive Solutions BU, confirmed publicly for the first time at a press conference that Huawei's Intelligent Automotive Solutions BU would operate independently.

On January 16 of this year, Intelligent Vision was officially established, with its registered address located in Huawei's headquarters office building. It is wholly owned by Huawei Technologies Co., Ltd., and its two main members, Zheng Liying (Executive Director, Manager) and Song Liuping (Supervisor), are both Huawei executives.

It can be seen that Intelligent Vision is the new company established by Huawei's Intelligent Automotive Solutions BU. AVATR's investment in this company marks a significant progress in the spin-off of Huawei's Intelligent Automotive Solutions BU.

According to Huawei's plans, in addition to Changan Automobile, Intelligent Vision will gradually open its equity to existing strategic partner automakers and investors with strategic value, becoming a diversified equity company. Therefore, Huawei's Smart Selection partners such as Seres, JAC Motor, Beijing Automotive Group, and Chery Automobile have all become "key suspects" in the market.

On July 28, Seres announced its intention to invest in Intelligent Vision and had initiated negotiations with Intelligent Vision and its shareholders to join the investment in Intelligent Vision.