Increasing competitiveness in China and highlighting cooperation as the mainstream, Volkswagen announced 16.8 billion yuan in investment projects in China.
When some foreign media speculated that the German government intends to take tougher measures on trade issues with China, Germany's Volkswagen announced on the 13th that it will invest about 2.4 billion euros (about 16.8 billion yuan) to establish a new company with Horizon, a provider of intelligent computing platforms with China, mainly focusing on the development of technology in the field of autonomous driving. Industry insiders interviewed by the Global Times believe that China and Germany have formed a long-term cooperative partnership in the field of high and new technology, and any attempt to forcibly "decouple" from the Chinese economy is unrealistic and irrational.
According to a press release issued by Volkswagen and Horizon, Volkswagen's software company CARIAD will launch a new cooperation with Horizon to accelerate the development of advanced driver assistance systems and autonomous driving systems for the Chinese market. According to the press release, Volkswagen plans to invest about 2.4 billion euros in the newly established joint venture, and the transaction is expected to close in the first half of 2023. The investment transaction is subject to the final signing of an agreement by the partners and approval by the relevant government agencies.
It is reported that in response to the Chinese market demand, CARIAD will cooperate with Horizon to develop leading, highly optimized full-stack advanced driver assistance systems and autonomous driving solutions, integrating multiple functions on a single chip, improving system stability, saving costs, reducing energy consumption, and providing scalable and cost-effective advanced driver assistance systems and autonomous driving solutions for Volkswagen's pure electric vehicles in China. According to the introduction released on the official website of Horizon, the company has reached cooperation with domestic and foreign automobile manufacturers such as BYD, Changan Automobile, GAC Group, and Audi, and the cumulative shipments of Journey chips developed by it have exceeded 1.5 million pieces.
Richard Bered, Chairman and CEO of Volkswagen Group China, said: "The Chinese market is dynamic and is the Group's most important business area in the world. The partnership with Horizon is a core cornerstone for the Group's strategic transformation in China and strengthening its presence there. Local R&D will give us more autonomy and further strengthen our leading position in the Chinese automotive market." ”
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