Friday, July 12, 2024

Volkswagen to invest up to 2 bln euros in a joint venture with Horizon Robotics

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The Volkswagen Group through its software company CARIAD will partner with Horizon Robotics, one of the leading providers of computing solutions for smart vehicles in China.

The collaboration between CARIAD and Horizon Robotics will focus on regional development of Advanced Driver Assistance System (ADAS) and Autonomous Driving (AD) systems in China.

CARIAD and Horizon Robotics will establish a joint venture, with CARIAD as the majority shareholder. VW will invest around 2.4 billion euros, which is expected to be completed in the first half of 2023.

“The partnership with Horizon Robotics is a key cornerstone of our strategy to realign and further strengthen our activities in our most important markets worldwide,” said Ralf Brandstätter, Member of the Board of Management of Volkswagen AG for China in a statement on the Volkswagen blog.

See also: Volkswagen targeting to automate 20-30% of production at new electric vehicle plant

According to him, the cutting-edge technology consisting of a full suite of software and hardware to be developed by the new joint venture, will allow us to adapt our products and services faster and more consistently to the needs of VW customers in China.

“Working closely with Horizon Robotics will allow Volkswagen to accelerate the development of automated driving solutions as part of our NEW AUTO strategy and drive the repositioning of our China business.”

CARIAD and Horizon Robotics jointly plan to develop a highly optimized full stack ADAS/AD solution for China to promote integration of multiple functions on a single chip, increase system stability, save costs and reduce energy consumption.

See also: Volkswagen’s PowerCo cooperates with Umicore to create joint venture on EV battery materials production

“As the Volkswagen Group’s global automotive software and technology company, CARIAD is an important force in the Group’s transformation into a software-based mobility provider,” added CARIAD CEO Dirk Hilgenberg.

Hilgenberg revealed that the aim of this partnership is to create long-term value in China for the Group and our shareholders in line with expected market developments.

Volkswagen predicts shortage of semiconductor chips to continue into 2023

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