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BMW to Integrate Huawei Smart-connect System Into its China-made Cars

(FILES) The headquarters of German carmaker BMW (Bayerische Motoren Werke AG) are pictured in Munich, southern Germany, on May 20, 2022. (Photo by Christof STACHE / AFP)
(FILES) The headquarters of German carmaker BMW (Bayerische Motoren Werke AG) are pictured in Munich, southern Germany, on May 20, 2022. (Photo by Christof STACHE / AFP)
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BMW to Integrate Huawei Smart-connect System Into its China-made Cars

(FILES) The headquarters of German carmaker BMW (Bayerische Motoren Werke AG) are pictured in Munich, southern Germany, on May 20, 2022. (Photo by Christof STACHE / AFP)
(FILES) The headquarters of German carmaker BMW (Bayerische Motoren Werke AG) are pictured in Munich, southern Germany, on May 20, 2022. (Photo by Christof STACHE / AFP)

BMW Group will integrate Huawei HiCar, the Chinese tech conglomerate's car mobile app connecting devices with vehicles, into its locally produced new models in 2026, the German automaker said on Monday.
BMW is teaming up with Huawei to develop smart applications based on the Harmony operating system for drivers of its vehicles using the tech conglomerate's devices in China, according to a company statement.
The German automaker is working with its suppliers to achieve more "cross-cycle" cooperation and "promote the deep integration of local Chinese (partners) into BMW's global innovation system," the statement added.

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Intel Shares Fall as Dour Forecasts Overshadow CEO’s Turnaround Promises

The Intel logo is seen near computer motherboard in this illustration taken January 8, 2024. (Reuters)
The Intel logo is seen near computer motherboard in this illustration taken January 8, 2024. (Reuters)
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Intel Shares Fall as Dour Forecasts Overshadow CEO’s Turnaround Promises

The Intel logo is seen near computer motherboard in this illustration taken January 8, 2024. (Reuters)
The Intel logo is seen near computer motherboard in this illustration taken January 8, 2024. (Reuters)

Intel's shares fell more than 8% on Friday as the company's weak revenue and profit forecasts overshadowed new CEO Lip-Bu Tan's strategy to revitalize the embattled chipmaker.

Years of bad decisions have left the struggling American chipmaking icon trailing in the lucrative artificial intelligence industry, while a raging Sino-US trade war casts doubt on near-term demand for its PC processors.

Tan on Thursday gave glimpses of his plans to reanimate Intel's culture of innovation by focusing on core engineering, stripping away unnecessary administrative work and cutting workforce.

"Intel is so huge that shifting its course is like turning a battleship – it cannot be done on a dime," Evercore ISI analysts said.

Tan did not provide much detail on how he will restore Intel's leadership position in manufacturing, nor on his plans to attract more external customers to the company's foundry, J.P.Morgan analysts said.

Tan remains focused on the contract manufacturing business and has recently met rival TSMC'S CEO to discuss how the two companies could collaborate.

Executives said first-quarter sales were boosted by customers stockpiling chips as growing tariff tensions between the US and China have made buyers wary of future purchases.

Intel could also stand to benefit if China introduces certain exemptions on US imports given the company's large presence in the Asian country, Ben Barringer, global technology analyst at Quilter Cheviot, said.

AI STRATEGY IN QUESTION

Tan's comments about sharpening Intel's existing products to best suit emerging AI trends have sparked questions on how the company plans to get ahead in the booming artificial intelligence sector and challenge market leader Nvidia.

"Intel needs to streamline fast – they have a lot of investments to make to catch up in AI," Stifel analyst Ruben Roy said.

Historically, Intel has relied on buying startups to further its AI ambitions. Other than Mobileye which Intel spun out a few years ago, the other deals didn't help the company gain much traction.

"Intel should have always had its own internal solution, but it missed the boat and tried to acquire its way into AI," Anshel Sag, principal analyst at Moor Insights & Strategy, said.

One of Intel's biggest missteps was failing to capitalize on the booming demand for AI chips, allowing Nvidia to dominate the market.

Intel now faces an uphill battle in challenging AI heavyweights as it lacks the same level of GPU intellectual property, which is essential for AI workloads, Barringer added.

The company's stock has gained 7.2% so far this year, outperforming Nvidia and Advanced Micro Devices, which have fallen nearly 20% each.

Intel, however, trades at a higher 12-month forward price-to-earnings ratio of 31.37 versus 22.70 for Nvidia and 19.24 for AMD.