Beijing time on February 17, according to the German financial media “Manager Magazine” reported that Volkswagen Group is negotiating with Huawei and plans to buy Huawei’s autonomous driving division for billions of euros. “Manager Magazine” has always been known for digging deep business insider.
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Managers Magazine, citing people familiar with the matter, said VW Group executives had been negotiating the deal for months, which also involved technical systems that VW was not good at.
Right now, automakers and tech companies are investing billions of dollars in autonomous driving to gain a head start in what many see as the future of mobility.
VW Chief Executive Herbert Diess said on Wednesday he expects the auto industry to popularize self-driving technology within 25 years, and the company is seeking new partnerships to increase self-sufficiency in software.
A VW spokesman declined to comment.