• 25.08.2024

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Avita Acquires 10% Stake in Huawei’s Yingwang for 11.5 Billion Yuan

Aug 20, 2024

On August 19, Changan Automobile announced that Avita Technology will buy a 10% stake in Huawei’s subsidiary, Yingwang, for 11.5 billion yuan. This marks significant progress in the split of Huawei’s car business unit. After the transaction, Avita will hold 10% of Yingwang, while Huawei will hold 90%. Yingwang’s valuation is confirmed at 115 billion yuan.

Avita Acquires 10% Stake in Huawei's Yingwang for 11.5 Billion Yuan

The board of directors consists of 7 members. Huawei has 6 members. Avita has 1 member.