Shulou(Shulou.com)11/24 Report--

CTOnews.com, October 12 (Xinhua) Volkswagen Group plans to invest 2 billion euros (about 13.9 billion yuan) in China to set up a software joint venture with Horizon to further enhance digital, intelligent competitiveness and achieve technological independence, while ensuring the supply of intelligent driving software and chips, according to the German manager's magazine.

CTOnews.com reported last week that Volkswagen would set up a joint venture with a domestic company, but it was reported at the time that the amount was more than 1 billion euros. Since the beginning of the year, Volkswagen's round of bidding for smart driving in China has involved many star companies, including Huawei, DJI vehicle, Horizon and so on.

According to public information, Beijing Horizon Robot Technology Research and Development Co., Ltd. (Horizon Robotics) is a Chinese automotive intelligent chip company. The chips developed by the company involve deep learning technology and have independent research and development of edge artificial intelligence chips and solutions with extreme performance and open ease of use. The company is also the first company in China to achieve pre-loading production of automotive specification-level smart chips. Currently, Horizon and the four major automotive markets (the United States, Germany, Japan and China) have established important customer relationships with top OEM and Tier1.

"it is reported that Volkswagen Group will set up a software joint venture in China, at a cost of nearly 7 billion yuan."

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