Chinese telecom equipment maker Huawei is planning to manufacture electric vehicles under its own brand name.
According to media reports, the tech company is negotiating with Changan Automobiles as well as other Chinese automakers to strike a deal to use their car manufacturing facilities to produce the EV. The company plans to launch its EV brand as early as the end of this year.
The strategic change in direction comes after the company’s access to the US supply chains was cut off after sanctions imposed by the US on its equipment two years ago.
Although Huawei has denied these reports, it could join tech giants like Apple and Alibaba who are planning to launch their own EV brands over the next few years, if it does follow through on its plan.