In April, China’s Huawei Technologies launched what it says is the world’s first 5G communications software for the automotive industry. Yet another hint at the company’s growing ambitions to become a key supplier to the sector for self-driving technology.
In a statement, Huawei said that the so-called MH5000 module is based on the Balong 5000 5G chip which it launched back in January. “Based on this chip, Huawei has developed the world’s first 5G car module with high speed and high quality,” the statement read.
The statement went on to say that the module will aid in the company’s plans to start commercializing 5G network technology for the automotive sector later this year. This is just another step of many over the past few years. Huawei has been working hard for the past several years, testing technology for intelligent connected cars in major Chinese cities like Shanghai, Shenzhen and Wuxi. It has also signed cooperation deals with car makers like FAW, Changan and Dongfeng.
“As an important communication product for future intelligent car transportation, this 5G car module will promote the automotive industry to move towards the 5G era,” Huawei said.
Huawei is also the world’s biggest telecoms equipment maker. The company is pushing hard to try get in front of the global race for next-generation 5G networks. However, its drive to be on top has placed it under increasing scrutiny from Washington, which strongly alleges that its equipment could be used for espionage. Huawei has repeatedly denied these allegation.
Automotive Merchant Account for a Growing Industry
Thanks to new technology, the automotive industry continues to transform the way consumers view transportation. This has become an exciting time for entrepreneurs starting new companies and established businesses alike. Where there is innovation, there is also a need for funding.
Finding flexible financing is a challenge for any industry, let alone one that is considered high risk like the automotive industry. Traditional lenders often shy away and refuse to extend a line of credit. This is where alternative lenders have stepped in to offer attractive solutions.
In order to operate smoothly, a business will need safe payment processing services and sufficient working capital to cover expenses. An alternative lender like First American Merchant can offer both via an automotive merchant account. This account provides access to a cash advance, along with a full suite of merchant services like multiple payment processing options and chargeback protection.
As a high-risk provider, First American Merchant is more than comfortable working with businesses in the automotive industry. In fact, our experts specialize in working with business types considered “high-risk”. If your business needs an automotive merchant account, you can be approved in as little as 24 hours. The application process takes minutes to complete and is known for being simple and hassle-free.
Don’t let a lack of merchant services and cash stall your business plans. Secure the cash and support you need to get your business on track and take advantage of the opportunities a growing industry has to offer.