- Partnership to help Volkswagen Group to speed up customization of automated driving solutions for the Chinese market
- Volkswagen Group to invest in a cooperation with Horizon Robotics, a leading supplier of energy-efficient computing solutions for smart vehicles
- As part of the cooperation, CARIAD and Horizon Robotics intend to establish a joint venture in China, in which CARIAD will hold a majority stake of 60%
- Integration of numerous functions in one integrated chip is intended to increase stability and reduce energy consumption of entire automated systems, allowing for scalable ADAS and AD solutions with differentiating innovation
- Volkswagen Management Board Member Ralf Brandstätter: “Teaming up with Horizon Robotics will allow Volkswagen to accelerate the development of automated driving as part of our NEW AUTO strategy and drive the repositioning of our China business.”
- Horizon Robotics CEO Dr. Kai Yu: “As one of the leading companies to commercialize and mass produce computing solutions of autonomous driving in China, we will bring in our expertise to our partnership with CARIAD to develop next-generation technologies for smart vehicle users.”
Volkswagen to strengthen regional development competence for autonomous driving in China through joint venture between CARIAD and Horizon Robotics
The Volkswagen Group is strengthening its development competence “in China, for China” to accelerate the pace of innovation, promote technological localization and further strengthen its customer focus in this important market. A new partnership between its software company CARIAD and Horizon Robotics, one of the leading providers of computing solutions for smart vehicles in China, will accelerate the regional development of Advanced Driver Assistance System (ADAS) and Autonomous Driving (AD) systems for the Chinese market. As part of the cooperation, CARIAD and Horizon Robotics plan to also establish a joint venture, with CARIAD being majority shareholder. Volkswagen Group willoverall invest approximately EUR 2.4 billion in the cooperation with Horizon Robotics. The transaction is expected to be completed in the first half of 2023. Together CARIAD and Horizon Robotics plan to develop cutting-edge, highly optimized full stack ADAS/AD solutions for China to drive forward the integration of numerous functions on one chip, increasing the stability of the system, saving costs, and reducing energy consumption. The fully integrated software/hardware technology offers differentiation and provides scalable as well as cost efficient ADAS/AD solutions for the Group’s BEV (Battery Electric Vehicles) models in China. The closing of the transaction is subject to the final signing of transaction documents between the parties involved and customary government approval, as well as, in particular, the approval of merger control and foreign investment authorities.