Home » CARIAD, a software company under the Volkswagen Group, and Horizon set up a joint venture to develop autonomous driving technology in China-China Quality News Network

CARIAD, a software company under the Volkswagen Group, and Horizon set up a joint venture to develop autonomous driving technology in China-China Quality News Network

by admin
CARIAD, a software company under the Volkswagen Group, and Horizon set up a joint venture to develop autonomous driving technology in China-China Quality News Network

Overweight in China to develop autonomous driving technology, CARIAD, a software company under Volkswagen Group, and Horizon set up a joint venture

China Quality News Network (Zhang Yang) On October 13, Volkswagen Group announced that its software company CARIAD has cooperated with Horizon, a high-performance intelligent driving computing platform. This cooperation will speed up the development of Volkswagen Group’s advanced driver assistance systems and autonomous driving systems for the Chinese market. The driving experience of a self-driving car.

Image credit: Volkswagen Group

It is understood that CARIAD and Horizon will establish a joint venture in China and hold a 60% stake in the joint venture. Volkswagen Group plans to invest about 2.4 billion yuan (about 16.81 billion yuan) in this cooperation. The transaction is expected to be completed in 2023. Completed in half a year.

According to the introduction of Volkswagen Group, CARIAD will work with Horizon to develop leading and highly optimized full-stack advanced driver assistance systems and autonomous driving solutions to meet the needs of the Chinese market, integrating multiple functions on a single chip to improve system stability. Save costs and reduce energy consumption. This “soft and hard” technology is conducive to creating differentiated innovations, providing scalable and cost-effective advanced driver assistance systems and autonomous driving solutions for the group’s pure electric vehicles in China. This investment transaction has yet to be signed by all parties and approved by relevant government agencies.

Barrett, Chairman and CEO of Volkswagen Group (China), said: “The Chinese market is full of vitality and is the most important business area for the Group in the world. The cooperation with Horizon is the Group’s strategic transformation in China and the strengthening of its business in China. Core cornerstone. Local R&D will give us more autonomy and further consolidate our leading position in the Chinese automotive market. Future joint ventures will develop cutting-edge technologies including complete software and hardware stack technologies, enabling us to develop more advanced We will continue to provide customized products and services for Chinese consumers at a fast speed. Through cooperation with Horizon, we will accelerate the development in the field of autonomous driving, promote the NEW AUTO strategy, and further drive business transformation in China.”

See also  Resolution 10 of 04/17/2023 - Approval of the agreement between the Ministry of Foreign Affairs and Mr. Massimo Ferdinandi, non-resident Ambassador of the Republic of San Marino to ASEAN, pursuant to Law no. 14 of 1 February 2023

Dirk Hilgenberg, CEO of CARIAD, said: “As the Volkswagen Group’s global center for automotive software and technology innovation, CARIAD is an important force in helping the Group transform into a software-driven mobility service provider. With further investment in technology, we will further establish the Group’s position in the new wave of innovation and modernization in the Chinese auto market. Our goal is to create long-term value for the Group and shareholders in China that is in line with market growth expectations.”

Intelligent driving enabled by advanced advanced driver assistance systems and autonomous driving systems is a key technology for future mobility, and its market growth potential is huge. Therefore, the development speed of intelligent driving-related technologies is crucial to the intelligent transformation of the mobility industry. In order to respond to the needs of the Chinese market faster, Volkswagen Group established a CARIAD software subsidiary in China in April this year. of attention.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy