Chinese tech giant Huawei, which insists on not being directly involved in building cars, has a growing number of partners in the sector.
BAIC Foton and Huawei have launched an initial collaboration in autonomous driving, the Shanghai-listed company said in an exchange with investors on June 28.
The two sides are conducting in-depth technical discussions on smart cockpits, Ethernet and radar, Foton said.
Earlier this year in April, Huawei's rotating chairman Xu Zhijun said the smart car components developed by the company had been fully marketed and were gradually gaining traction.
Huawei's positioning is a car parts provider, the strategy is to help car companies to build a "good car", Huawei is also trying to help car companies sell good cars.
Huawei has selected three car company partners, with "Huawei Inside" way to support them to build their own sub-brands, Xu said.
Huawei and BAIC new energy have created the ARCFOX brand, which will soon launch a series of cars for the market, and have similar cooperation with Changan and Guangzhou automobile, he said.
In December 2018, Foton entered into a partnership with Neusoft Ruichi, an indirectly owned subsidiary of Neusoft, in autonomous driving.
The two sides leveraged their respective technology accumulation in vehicle control, environment perception, sensor fusion, decision-making, high-precision positioning, and vehicle/vehicle-road communication to focus on typical application scenarios such as highway autonomous driving and queue autonomous driving with V2X fusion for application cooperation.
The two parties have also carried out application demonstrations in green vehicle use, shared mobility, smart road networks, and intelligent driving.
Foton's financial report for the first quarter of this year showed that the company's main revenue was RMB 15.9 billion ($2.4 billion), up 72.04 percent year-on-year, net profit was RMB 323.26 million, up 201.83 percent year-on-year.
On June 23, Foton failed to fulfill its legal obligations on time and was enforced by the court, with an execution target of over RMB 8.02 million.
On June 10, Foton issued an announcement that the company received RMB 44.32 million of new energy vehicle promotion subsidies transferred by the Beijing Municipal Bureau of Finance for the 2019 new energy vehicle promotion and application subsidy funds.
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