China's Huawei Technologies has asked Mercedes Benz and Volkswagen's Audi if they are interested in buying small stakes in its smart car software and components firm, according to three people with knowledge of the discussions.
The move is aimed at expanding its partnerships beyond Chinese brands, they said. Huawei (HWT.UL), the target of U.S. sanctions since 2019, also hopes the presence of foreign investors would help defend the business from potential further geopolitical tensions, according to one of the sources who was briefed on the matter.
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