Volkswagen wants through this cooperation “accelerating the development of automated driving systems“, said Ralph Brandstattermember of the management board, intending to benefit the Chinese market.
Cariad and Horizon Robotics intend to create a joint venture in China, the world’s largest automotive market, in which Cariad will hold a 60% majority stake.
The Chinese group presents itself as one of the world’s leading suppliers of computing platforms for intelligent vehicles.
The two companies want to jointly develop solutions for “integrate many functions in one chip” and so “reduce their energy consumption“, according to a press release.
The transaction is expected to close in the first half of 2023.
As part of its transition to electric vehicles, Volkswagen has long been investing in China, which has become its largest global market and a leading country in the race for “green” cars.
The second largest manufacturer in the world has already created several joint ventures there with local partners, particularly in the field of batteries.
The autonomous car is another strategic project for car manufacturers. Volkswagen has created a dedicated subsidiary, Cariad, responsible for coding the software for future models.
The dependence of the German economy on the Chinese market is, however, a subject of concern for the government ofOlaf Scholz which calls on large companies to diversify their partnerships
The former CEO of Volkswagen, Herbert Diesswho handed over at the beginning of September, said to himself before the summer “concerned about the general attitude of the German government towards China”.
He called for “more dialogue“with Beijing, warning of possible”economic impacts” in terms of “cgrowth, well-being and employment” in Germany in the event of a break with Beijing.