Shulou(Shulou.com)11/24 Report--

CTOnews.com, Oct. 13 (Xinhua) Volkswagen Group announced on Thursday that Volkswagen will invest 2.4 billion euros (16.68 billion yuan) to set up a self-driving software and hardware joint venture between its software company CARIAD and Chinese technology company Horizon Robotics, and hold a 60% stake, thus speeding up the development of the group's advanced driving assistance system and self-driving system for the Chinese market.

According to a statement from Volkswagen, the joint venture is expected to be completed in the first half of 2023 (the investment transaction has yet to be finally signed by the partners and approved by relevant government agencies). CARIAD will work with Horizon to develop a leading, highly optimized full-stack advanced driving assistance system and self-driving solution, integrating multiple functions on a single chip to improve system stability, save costs and reduce energy consumption.

CTOnews.com has reported that there was news that Volkswagen would set up a joint venture with a domestic company, but it was reported at that time that the amount was more than 1 billion euros. Yesterday, German media said that Volkswagen would invest 2 billion euros in a joint venture with Horizon, which now appears to be 2.4 billion euros.

In fact, Volkswagen has already invested in R & D in China, but this is the first time they have set up a technology-focused joint venture in China. In view of the current backwardness of Volkswagen in the electric vehicle market, it is also a feasible option to cooperate with suppliers of Chinese competitors.

According to public sources, Beijing Horizon Robot Technology Research and Development Co., Ltd. (Horizon Robotics) is a Chinese automotive smart chip company established in 2015 to provide solutions to customers such as Volkswagen Audi, ideal Automobile and SAIC, with investors including traditional car companies such as BYD and Great Wall, as well as AI leaders such as Intel.

The chip developed by the company involves deep learning technology and has independently developed edge artificial intelligence chips and solutions that are both extremely efficient and open and easy to use. the company is also the first company in China to achieve mass production of automotive specification-level smart chips. Currently, Horizon and the four major automotive markets (the United States, Germany, Japan and China) have established important customer relationships with top OEM and Tier1.

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"sources say Volkswagen and Horizon will set up joint ventures in China."

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