(Yicai Global) June 8 -- Huawei Technologies has established a new unit focusing on digital energy, including hybrid car engines, energy conservation, and solar power equipment, in the biggest investment among the telecoms giant's 25 subsidiaries.

Huawei Digital Energy Technology, which has CNY3 billion (USD468.9 million) in registered capital, was formed yesterday, according to corporate data platform Tianyancha. The Shenzhen-based parent has all of the unit's equity.

The tech giant may be known for its smartphones, cloud computing, and smart car solutions, but digital energy is clearly a rising star in Huawei's ecosystem, Shanghai Securities News reported today.

The company has been in the field for long. Its power electronics devices are used in more than 170 countries and regions, serving one-third of the world's population. In 2019, its digital energy business revenue climbed 40 percent to CNY30 billion (USD4.69 billion). Since 2015, its photovoltaic inverter shipments have ranked No. 1 globally.

Huawei will focus on driving digital transformation in the energy industry, Hou Jinlong, president of Huawei Digital Energy Technology, said to the same news source. The company is expected to create systems to manage the usage of energy in electric cars, wind power plants, and solar power stations, Hou added.

Low-carbon business, electrification, and digital transformation provide Huawei with great opportunities to achieve rapid development, and the company needs to build roots in the field of digital energy, founder Ren Zhengfei said during the firm’s annual conference this year.

Editor: Emmi Laine, Xiao Yi