{"id":1687640,"date":"2022-10-13T08:05:49","date_gmt":"2022-10-13T12:05:49","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1687640"},"modified":"2022-10-13T08:05:56","modified_gmt":"2022-10-13T12:05:56","slug":"volkswagen-to-take-60-stake-in-2-billion-tech-jv-with-chinas-horizon-robotics","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/volkswagen-to-take-60-stake-in-2-billion-tech-jv-with-chinas-horizon-robotics\/","title":{"rendered":"Volkswagen to take 60% stake in $2 billion tech JV with China\u2019s Horizon Robotics"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fvolkswagen-to-take-60-stake-in-2-billion-tech-jv-with-chinas-horizon-robotics%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1687640&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Victoria Waldersee<\/p>\n<p>BERLIN (Reuters) -Volkswagen\u2019s software unit Cariad will spend more than $2 billion and take a 60% stake in a new venture with Chinese technology firm Horizon Robotics, it said on Thursday, tackling two big challenges: software and the Chinese market.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>The carmaker will invest $1 billion in Horizon Robotics and a further 1.3 billion euros ($1.26 billion) in the joint venture, with the transaction to be completed in the first half of 2023.<\/p>\n<p>Together the companies will develop technology that can integrate numerous functions for autonomous driving onto a single chip that will be available only in China.<\/p>\n<p>The venture will mean Volkswagen has a supplier in each major region \u2013 North America, Europe and China \u2013 given its existing supply relationships with U.S. chipmaker Qualcomm and Franco-Italian STMicrolectronics. <\/p>\n<p>In contrast to the partnership with Qualcomm, Volkswagen\u2019s software unit Cariad will play an active role in developing the chip technology with Horizon Robotics, and the know-how will be shared across the Volkswagen Group, the carmaker\u2019s China chief Ralf Brandstaetter said.<\/p>\n<p>\u201cThat\u2019s why this cooperation with Horizon Robotics is deeper,\u201d he added.<\/p>\n<p>Its part of a wider push by Volkswagen to strengthen its software offering and make its mark on the Chinese electric vehicle market, where it lags domestic competitors \u2013 notably BYD \u2013 and Tesla.<\/p>\n<p>Horizon Robotics, founded in Beijing in 2015, has supplied customers including BYD, Volkswagen\u2019s Audi, Continental, Li Auto and SAIC, according to its website. <\/p>\n<p>Investors include carmakers like BYD and Great Wall Motors as well as Intel. <\/p>\n<p>($1 = 1.0283 euros)<\/p>\n<p> (Reporting by Victoria WalderseeEditing by Madeline Chambers, Miranda Murray and Barbara Lewis)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/business\/volkswagen-to-take-60\/attachment\/file-photo-a-volkswagen-id-6-x-is-displayed-ahead-of-2\/\"><img decoding=\"async\" src=\"https:\/\/c3.oann.com\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportTechnologyNews\/tagreuters.com2022binary_LYNXMPEI9C0KL-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI9C0KL-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Victoria Waldersee BERLIN (Reuters) -Volkswagen\u2019s software unit Cariad will spend more than $2 billion and take a 60% stake in a new venture with Chinese technology firm Horizon Robotics,<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1687640","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1687640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1687640"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1687640\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1687640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1687640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1687640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}