JAC plans to invest in Huawei's smart car unit Newcool

Anhui Jianghuai Automobile Group Corp (JAC) plans to invest in Huawei's smart car business unit Newcool, poised to become the unit's third major external shareholder.

The Chinese automaker disclosed the potential investment intention in a Shanghai Stock Exchange filing today. The specific investment amount, transaction method and transaction price are subject to final documents signed by both parties, News.az reports, citing Cnevpost.

If the transaction is completed, Newcool will become an equity-participating company of JAC, and JAC's consolidated financial statement scope will remain unchanged, it said.

Huawei currently holds an 80% stake in Newcool, Seres holds 10%, and Avatr holds 10%.

Founded in January 2024, Newcool was initially wholly owned by Huawei and later opened its equity to other automakers as an open platform.

The company's business covers Huawei's Qiankun ADS, vehicle control, intelligent automotive light, vehicle cloud and HarmonySpace solutions, aiming to provide an intelligent mobility experience.

Seres and Avatr each bought a 10% stake in Newcool in 2024 for 11.5 billion yuan ($1.68 billion) respectively, valuing the business at 115 billion yuan.

JAC has initiated negotiations with Newcool and its shareholders to join the investment in the company, hoping to jointly support the business to become a world-class leader in the automotive smart driving system and components industry, according to today's filing.

JAC has a long-standing partnership with Huawei, and the two sides jointly created the premium smart car brand Maextro.

In May 2025, Maextro's first model, the Maextro S800, was launched with a starting price of 708,000 yuan, making it one of the most expensive models from a domestic automaker to challenge Mercedes-Benz.

The model achieved success in China's ultra-luxury market, and at the end of 2025, the Maextro S800 reached the milestone of its 10,000th unit rolling off the production line.

News.Az 

By Faig Mahmudov