HUAWEI acquires intelligent auto parts-purposed land for $29 million

Beijing (Gasgoo)- Recently, China’s ICT giant HUAWEI won the bid for a vacant lot dedicated for intelligent auto parts manufacturing in Dongguan, Guangdong, according to the Dongguan City Public Resource Trading webpage.

Photo credit: HUAWEI

The municipal announcement showed that the land in auction takes up 26.36 square meters, with a set estate purpose of industry/roads and a fixed industry type of intelligent auto parts manufacturing.

HUAWEI won the bid with the floor price of RMB187.81 million ($29.4 million), with 50 years of ownership. The contract indicated that the project investment should not be less than RMB2.4 billion ($375.7 million). The estimated construction time of the land is three years, starting no later than December 31st, 2022, and finishing before December 31st, 2025.

In fact, HUAWEI has been vigorously laying out in the automotive intelligence field. The company’s investment in the auto parts field will reach $1 billion this year, with an R&D team of 5,000 members. As of now, the company has launched over 30 intelligent automotive products, with its MDC intelligent driving computing platform, LiDAR, and its HarmonyOS cockpit leading their respective fields.

Aside from automotive intelligence, HUAWEI has also been branching out into the new energy field. In June, the company set up a wholly-owned new energy subsidiary, HUAWEI Digital Energy Technology Co., Ltd. 

In October, the company purchased an ICT/new energy-purposed industrial land in Shenzhen at its floor price, RMB298 million ($46.65 million).