China tech firms aim for huge footprint in vrooming NEV industry

Workers install engines in new energy vehicles at the Dayun New Energy Vehicle Production Base in Yuncheng, Shanxi province, on Jan 25, 2024. [Photo/VCG]

BEIJING: Chinese technology companies are foraying into the new energy vehicle (NEV) industry, believing that the smart driving functions of electric vehicles (EVs) will be key to winning market competition over the next decade.

From supplying autonomous driving systems to developing cars, tech companies such as Huawei Technologies Co and Xiaomi Corp are emerging as competitive auto players.