Embattled Chinese tech giant Huawei on Monday vowed to weather wide-ranging US sanctions with a push into the intelligent vehicle sector and ramping up development of its own mobile phone ecosystem.
Rotating chairman Eric Xu said Huawei planned to invest $1 billion in the projects – in cooperation with major Chinese automakers – of systems for electric vehicles and cars that use artificial intelligence.
It also planned to push ahead in helping develop applications for the coming advent of superfast 5G connections, in cloud computing, and in the software business.
“With these adjustments in portfolio, we are quite confident we can survive,” said Xu at a gathering of industry analysts at company headquarters in the southern technology hub of Shenzhen.
“So the overall strategy and specific measures of Huawei are all revolving around enabling us to survive and develop under the entity listing in the long term,” he said.
In 2018, former US president Donald Trump launched an aggressive campaign to isolate the company globally following concerns that its telecom networking equipment installed worldwide could be used by China’s Communist Party government for espionage or sabotage.
China and Huawei have fiercely rejected the insinuation, saying the United States has never provide evidence.