Grandall Law Firm counselled on Avatr Technology’s acquisition of a 10% stake in Newcool, a wholly-owned subsidiary of Huawei, for RMB11.5 billion (USD1.61 billion).
Partner Li Bo led the Grandall team, with main support from partner Wu Linyue. Partners Lu Ruyi, Hu Jing, and Huang Chao advised on antitrust, trade controls, data compliance and IP matters. Additionally, Madrid-based partner Ding Li and Paris-based partner Sun Tao provided local antitrust counsel.
After a partnership pact in November 2023, Avatr’s parent company, Changan Automobile, committed to investing in Huawei’s proposed automotive intelligent systems venture, namely Newcool, which was founded in January 2024.
Despite delays due to the project’s complexity, the investment was ultimately sealed nine months later.
Eric Xu, deputy and rotating chairman of Huawei, said Newcool would continue to seek strategic partners, enhancing the development of the automotive industry and driving comprehensive intelligent advancements.
