ALBAWABA - Huawei is seeking to overcome crippling U.S. sanctions by focusing on electric vehicle production, the firm said in a statement.
The sanctions reduced Huawei's profits by 69 percent and hurt its strong smartphone operations.
Now, the firm opted for increasing its production of electric vehicles by partnering with several traditional car manufacturers to produce vehicles under the "iAuto" brand.
Huawei will work with Chery Automobile, Baic Motor, and Anhui Jianghuai Automobile to develop and produce iAuto vehicles.
The company already has a partnership with Cyrus Group to manufacture iAuto vehicles and plans to launch a series of models, including all-electric vehicles, sedans, and multi-purpose vehicles under the same brand.
