# Volkswagen to invest €2.4B in autonomous driving JV with Horizon Robotics in China

Volkswagen Group announced a joint venture with Chinese company Horizon Robotics, investing €2.4 billion ($2.3 billion). Volkswagen's software unit CARIAD will hold a 60% stake in the venture, which will develop integrated chips for automated driving.

- Type: Partnership
- Announced: 2022-10-14
- Where: China
- Value: $2.30B (2.40B EUR)
- Status: announced
- Products: integrated chips for automated driving, autonomous driving software and hardware
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [Volkswagen](https://endata.com/companies/533.md) (investor)
- [Horizon Robotics](https://endata.com/companies/54671.md) (partner)
- [Cariad](https://endata.com/companies/64505.md) (investor)

## Sources

- [teslanorth.com](https://teslanorth.com/2022/10/14/volkswagen-to-invest-2-3-billion-into-autonomous-driving-venture-in-china/), 2022-10-14: "Teaming up with Horizon Robotics will allow Volkswagen to accelerate the development of automated driving solutions as part of our NEW AUTO strategy and drive the repositioning of our China business."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.