Tech Insider: Huawei Smart Car Blues, China’s Micron Probe

Tesla and BYD still have room to cut car prices further in China, Beijing urges Japan to cut support of U.S. chip curbs

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A Huawei exclusive store in Beijing showcased smart cars on Aug. 27, 2022. Photo: VCG

Welcome to Caixin’s Tech Insider, your twice-weekly wrap on the movers, shakers and deal-makers in China’s tech scene.

Huawei facing difficulties in growing smart car business, executive says

Software giant Huawei Technologies Co. Ltd. revealed that it is struggling to grow its fledgling smart driving systems business as Chinese automakers fear losing control of the “soul” of their cars and U.S. sanctions keep international firms at a distance.

Richard Yu, who oversees Huawei’s consumer and smart car businesses, laid bare the company’s predicament at an industry forum Saturday, which followed renewed speculation that Huawei was planning to move into car manufacturing.

Yu spoke the day after Huawei published a lackluster earnings report for 2022, which shows net profit took a huge dive as revenue growth nearly stagnated year-on-year, indicating the impact that the U.S. technology export ban is having on the company and its drive to diversify its business.

Meituan co-founder seeks talent for AI startup

Talent is more important than capital when developing artificial intelligence (AI) right now, Meituan co-founder Wang Huiwen told Caixin, as he hunts for new hires to join a startup striving to launch a challenger to ChatGPT.