BEIJING (Reuters) -Huawei's joint electric vehicle brand with Chery said on Thursday that it will invest more than 10 billion yuan ($1.39 billion) and expand its research and development team to 5,000 people.

It did not give a timeline for the move, which it said aims to strengthen the brand's lead in technology terms, according to a WeChat post.

A new company was also created to integrate production, sales and services.

($1 = 7.1774 Chinese yuan renminbi)