Huawei recently announced an internal communication appointing Jin Yuzhi, the President of Huawei's Optical Product Line, as the CEO of the Intelligent Automotive Solutions BU, while the former CEO, Richard Yu, has been promoted to the position of Chairman of the BU.
Huawei's Intelligent Automotive Solutions BU was established in May 2019, focusing on incremental components for the intelligent connected vehicle industry. It provides services to automotive customers and industry partners, facilitating the electrification, connectivity, and intelligence upgrade of the automotive industry. The BU aims to enable automakers to produce high-quality vehicles and strives to become the preferred component supplier in the era of intelligent connected vehicles. By the end of 2022, Huawei had invested a cumulative total of $3 billion in the BU, with a research and development team of 7,000 employees.
Speculations from the industry suggest that Richard Yu's resignation as CEO of the Intelligent Automotive Solutions BU may be related to Huawei's strong comeback in the smartphone business. It is anticipated that he will now devote more energy to the smartphone business field. Recently, Huawei's upcoming Mate 60 series and the next-generation flagship foldable smartphone, Mate X5, have sparked discussions and high demand, causing a frenzy in the market.