In China, for China
In China, Volkswagen has transferred a substantial amount of money to Horizon Robotics, a company that is mainly involved in the development of technologies necessary for autonomous driving. This results in, among other things, a joint venture between Volkswagens Cariad and Horizon Robotics.
Cariad is a subsidiary of Volkswagen and is mainly engaged in software development, especially for new technological solutions. Cariad enters into a joint venture with Horizon Robotics in China, in which Cariad has the largest share with 60 percent. Volkswagen is pumping approximately €2.4 billion into its partnership with Horizon Robotics. According to Reuters, approximately €1 billion is a direct investment in Horizon itself and the rest will go to the newly formed joint venture, which should be a fact in the first half of 2023.
The collaboration between Cariad and Horizon has no consequences for the European market for the time being. The credo here is precisely ‘in China, for China’ and the joint venture therefore focuses specifically on the development of (partially) self-driving cars for the Chinese market.
.
– Thanks for information from Autoweek.nl