Internal software division Cariad and future partner Horizon Robotics approved the creation of a planned joint venture Thursday. The Germans want to put about 2.4 billion euros into the cooperation and have a 60 percent stake in the company. In the narrow sense, approximately 1.3 billion euros was allocated for the joint venture. If the authorities agree, the step should be implemented in the first half of 2023.
It’s about the joint design of software and custom microchips for highly automated and ultimately autonomous driving. China is a particularly dynamic market here. Horizon Robotics primarily deals with networking platforms for artificial intelligence (AI), machine learning, and transportation systems.
The joint venture will form a central component in the digitization and China strategy of Europe’s largest auto group, according to information from VW group circles on Wednesday. The aim is to build local expertise in business with its own software and electronics in the People’s Republic and become more independent.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
