Volkswagen takes majority stake in Chinese language tech three way partnership (OTCMKTS:VWAGY)
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Volkswagen (OTCPK:VWAGY) introduced a majority stake in a brand new three way partnership alongside Chinese language tech agency Horizon Robotics on Thursday.
By way of its software program unit Cariad, the German automaker stated that it’s going to make investments €2.4B to take a 60% stake within the enterprise to “strengthen its buyer focus on this vital market” and enhance Superior Driver Help System (ADAS) and Autonomous Driving (AD) programs to be used in China. The transaction is because of be accomplished within the first half of 2023.
“The partnership with Horizon Robotics is