- Huawei Technologies Co has appointed its consumer electronics business leader Richard Yu as the CEO of its smart car solutions unit, Bloomberg reports.
- Yu was already the car component director.
- Yu departed as the CEO of Huawei’s cloud group, a position assumed in April. However, he will continue to lead the consumer electronics business.
- Cloud division executive Zhang Pingan will become the CEO of the cloud group.
- Smartphone maker Xiaomi Corp (OTC: XIACF) (OTC: XIACY) earmarked $10 billion for EV (electric vehicle) business development over the next decade.
- Internet firm Baidu Inc (NASDAQ: BIDU) is part of a joint venture spending of $7.7 billion on smart auto tech over five years.
- Huawei has earmarked $1 billion spending on EV this year to take on the likes of Tesla Inc (NASDAQ: TSLA), Xiaomi, NIO Inc (NYSE: NIO), and XPeng Inc (NYSE: XPEV).
- Huawei had to sell cars to offset the U.S. embargo-led mayhem on its smartphone business, Yu stated during a public speech at Huawei’s flagship store in Shanghai on April 20.
Germany’s Two Largest Listed Residential Property Companies Vonovia and Deutsche Wohnen to Merge in €18b Deal
https://www.reuters.com/business/germanys-biggest-landlords-agree-22-bln-merger-2021-05-25/#:~:text=BusinessGermany's%20biggest%20landlords%20agree%20%2422%20bln%20merger&text=Germany's%20two%20biggest%20listed%20landlords,to%20general%20elections%20in%20September.
