Huawei to invest $2.6 billion on R&D in smart driving technologies

Huawei Technologies will invest 18 billion yuan ($2.6 billion) globally on research and development in smart driving technologies, including 10 billion yuan on computing power for training, a senior executive said on Thursday. Over the next five ‌years, Huawei ⁠plans ⁠to spend 70 billion to 80 billion yuan on computing power, Jin Yuzhi, Huawei’s senior vice president, said at an event in Beijing ahead of China’s largest auto show, which opens on Friday.

Huawei is defending its leading position after rapidly emerging ⁠as a ‌key supplier in China’s smart EV sector over the past four years, driven by ⁠advanced technologies increasingly favoured by affluent Chinese consumers over German-engineered alternatives.