Huawei's joint EV brand with Chery pledges $1.4 billion new investment

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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)

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