Chinese carmaker GAC to launch new car brand with Huawei

FILE PHOTO: GAC Group logo is seen in this illustration taken January 16, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

BEIJING (Reuters) - Chinese carmaker Guangzhou Automobile Group said on Wednesday that it had set up a new company to work with tech giant Huawei to launch a high-end car brand.

GAC invested 1.5 billion yuan ($207.46 million) to set up the company it said on WeChat.

($1 = 7.2303 Chinese yuan renminbi)

(Reporting by Yukun Zhang and Ryan Woo, Editing by Louise Heavens)