Huawei and GAC Establish Car Venture

A rundown of the news making headlines in and around China:

Huawei car collab: Guangzhou Automobile Group Co. Ltd. (GAC) and Huawei Technologies Co. Ltd. have set up an auto company for a soon-to-be established new car brand. Huawang Automotive Technology (Guangzhou) Co. Ltd. was established on Tuesday. GAC said the following day that the as-yet unnamed brand will feature Huawei’s intelligent driving software, smart cockpits and smart vehicle control solutions. The brand will focus on the luxury electric vehicle market, with its first model expected to be priced at 300,000 yuan ($41,489).