Chinese company 360 Mobile enters the automotive market

360 Mobile previously produced smartphones and home appliances, and now the manufacturer has officially announced its entry into the automotive market.

In addition, 360 Mobile has confirmed that it will spend about half a billion dollars to acquire a stake in Nezha Motors and become the second-largest shareholder in Nezha Automobile. 360 Mobile previously stated that the company's strategic investment in Nezha Automobile includes smart, networked vehicle security. 360 Mobile's network security experts will expand the capabilities of Nezha Automobile. The company will continue to explore the safety of smart, connected vehicles. The goal is to provide intelligent, connected vehicle safety services for the entire industry.

At the moment, the aforementioned investments have been approved by the relevant state bodies and the corresponding agreements have been signed. Also, 360 Mobile is trying to attract additional foreign investment.

We will remind, earlier Xiaomi announced its entry into the automotive market, planning to release an electric car in 2024.

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