# Avatr to acquire 10% stake in Huawei's Newcool for $1.6 billion

Avatr Technology will purchase a 10% stake in Huawei's automotive parts unit Newcool for RMB 11.5 billion ($1.6 billion), marking Newcool's first external investment. The deal values Newcool at RMB 115 billion.

- Type: Acquisition
- Announced: 2024-08-19
- Where: Chongqing, China
- Value: $1.60B (11.5B CNY)
- Status: announced
- Products: intelligent automotive systems and components
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [Changan Automobile](https://endata.com/companies/5057.md) (investor)
- [Huawei](https://endata.com/companies/19852.md) (target)
- [Avatr Technology](https://endata.com/companies/79248.md) (acquirer)
- [Newcool](https://endata.com/companies/79249.md) (target)

## Sources

- [cnevpost.com](https://cnevpost.com/2024/08/19/avatr-to-acquire-10-pct-stake-in-huawei-newcool/), 2024-08-19: "Avatr will sign the equity transfer agreement with Huawei on August 20 in Chongqing, with the transaction amounting to RMB 11.5 billion ($1.6 billion)."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.