"German car manufacturing giant Volkswagen said on Wednesday it would develop an in-house assisted driving chip for its business in China as it seeks to recover from sagging sales in the world's largest auto market. Volkswagen is still the leading foreign group operating in China but the auto giant's sales have drooped as local brands rise. It is also seeking to insulate itself from global tensions over semiconductors."
"The group announced a series of new electric and hybrid vehicles in April and an assisted driving system designed specifically for the Chinese market in an effort to counter that slide. "We are accelerating and deepening the implementation of our 'In China, for China' strategy -- moving beyond localised production to mastering the core technologies that shape tomorrow's mobility," Ralf Brandstatter, CEO of Volkswagen Group China, said in a news release on Wednesday."
Volkswagen will develop an in-house assisted driving chip for its China operations to help recover from sagging sales and reduce dependence on external semiconductor suppliers. The company remains the leading foreign automaker in China but faces rising competition from local brands. Volkswagen announced new electric and hybrid models and a China-specific assisted driving system to regain momentum. Design and production responsibility will sit with a joint venture between CARIAD and Horizon Robotics. The move aims to master core mobility technologies under an "In China, for China" strategy. Semiconductors have become a strategic risk amid widening US-China export controls and trade disputes.
Read at The Local Germany
Unable to calculate read time
Collection
[
|
...
]