- Huawei Technologies looks to spend CNY4 billion ($632.52 million) on building a new headquarters and R&D center for its digital power unit, Reuters reports.
- Huawei Digital Power inked an agreement on February 17 with the local government of the southern metropolis of Shenzhen, where its parent is headquartered, for the project.
- Huawei has been trying to diversify its portfolio beyond its core telecoms and smartphone businesses hit hard by U.S. export restrictions in recent years.
- Huawei's U.S. suppliers included Microsoft Corp (NASDAQ:MSFT), Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, Intel Corp (NASDAQ:INTC), Qualcomm Inc (NASDAQ:QCOM), and Meta Platforms Inc (NASDAQ:FB) before the U.S. banned it citing security threat.
- In January, Huawei Digital Power and China Resources Power Holdings Co Ltd agreed to develop clean energy projects. China Resources Power operates coal-fired power plants across China.
