Volkswagen, to invest in Chinese chip manufacturer!
Volkswagen has announced that it will invest a total of $2 billion into Horizon Robotics!
Horizon is a Chinese computer chip and robotics company.
Tweet on VW Chip investment in China
Volkswagen, with a massive investment in Chinese chip manufacturer!
Volkswagen has announced that it will invest a total of $2 billion into Horizon Robotics, a Chinese computer chip and robotics company, via @business https://t.co/YjCqZZgXpl
— The_Journalbiz (@the_journalbiz) October 13, 2022
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Volkswagen has been attempting to improve its computing and software chops significantly over the past year.
Volkswagen has also created partnerships with American chip manufacturer Qualcomm, as well as European chip maker STMicroelectronics. Now, according to Reuters, the company has continued its partnership push, acquiring 60% of Horizon Robotics.
- According to Reuters the Volkswagen/Horizon Robotics deal will focus on software and hardware regarding autonomous driving.
Hopefully, helping the German company compete in self-driving technology is now dominated by competitors. Specifically, Tesla has become an influential player in the technology.
With the deal with Horizon Robotics, Volkswagen now has a partnership within every major economy; North America, Europe, and Asia. This partnership could prove helpful in limiting transportation costs and keeping supply chains for different regions more independent.
It is important to note that this deal comes at a time of upheaval regarding German/Chinese diplomacy. The German Trade Ministry recently tabled a policy that would have forced all German corporate investments into China to be overviewed by the German government.
