BEIJING (Reuters) -Huawei’s joint electric vehicle brand with Chery said on Thursday that it will invest more than 10 billion yuan ($1.39 billion) and expand its research and development team to 5,000 people.
It did not give a timeline for the move, which it said aims to strengthen the brand’s lead in technology terms, according to a WeChat post.
A new company was also created to integrate production, sales and services.
($1 = 7.1774 Chinese yuan renminbi)
(Reporting by Beijing newsroom, Editing by Louise Heavens)
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