Huawei Technologies Co. will invest $1 billion on researching self-driving and electric-car technologies, accelerating plans to compete with Tesla Inc. and Xiaomi Corp. in the world’s biggest vehicle arena.
Huawei’s autonomous-driving technology already has surpassed Tesla’s in some spheres, for instance by allowing cars to cruise for more than 621 miles without human intervention, rotating Chairman Eric Xu told analysts in Shenzhen on April 12.
The Chinese telecom giant will partner with three automakers initially to make self-driving cars that carry the Huawei name as a sub-brand, said Xu, one of three executives who take turns to fill the post.
