Audi AG plans to invest about 2.4 billion euros in this cooperation, and the transaction is expected to be completed in the first half of 2023. (The investment transaction has yet to be finally signed by all partners and approved by relevant government agencies)
According to the market demand in China, CARIAD will cooperate with Horizon to develop a leading and highly optimized full-stack advanced driver assistance system and autopilot solution, integrating multiple functions on a single chip to improve system stability, save costs and reduce energy consumption.
This "combination of software and hardware" technology is conducive to creating differentiated innovation and providing scalable and cost-effective advanced driver assistance systems and autonomous driving solutions for the Group's pure electric vehicles in China.
Bered, Chairman and CEO of Audi AG (China), said: "The China market is full of vitality and is the most important business area of the Group in the world. Cooperation with Horizon is the core cornerstone for the Group to promote strategic transformation and strengthen its business in China. The localized R&D will give us more autonomy and further consolidate our leading position in China automobile market. The joint venture company to be established in the future will develop cutting-edge technologies, including complete software and hardware stack technology, so that we can provide customized products and services to China consumers in a faster and sustainable way. Through cooperation with Horizon, we will accelerate the development in the field of autonomous driving, promote new automobile strategies, and further promote the business transformation of China. "
Dirk Hilgenberg, CEO of CARIAD, said, "As a global innovation center of automotive software and technology of Audi AG, CARIAD is an important force to help the group transform into a software-driven mobile travel service provider. By establishing a joint venture with Horizon and further investing in autonomous driving technology, we will further establish the Group's position in the new wave of innovation and modernization in China's automobile market. Our goal is to create long-term value for the Group and China shareholders in line with market growth expectations. "
Yu Kai, founder and CEO of Horizon, said: "Horizon's mission is to empower machines and make human life safer and better. Since its inception, we have been committed to making every car equipped with Horizon intelligent computing platform. As one of the pioneers in promoting the commercial application of intelligent driving in passenger cars in China, we will give full play to the advantages of Horizon through cooperation with CARIAD, a software company under Audi AG, and develop a new generation of technologies and solutions for smart car users in China. We believe that with the leading combination of soft and hard solutions, Horizon will become the preferred partner of international car companies in China. "
Intelligent driving empowered by advanced driver assistance system and automatic driving system is the key technology of mobile travel in the future, with huge market growth potential. Therefore, the development speed of intelligent driving related technologies is very important for the intelligent transformation of the mobile travel industry. CARIAD has established a joint venture with Horizon, and CARIAD holds 60% of the company's shares. Both sides are committed to accelerating the development and commercialization of self-driving software and hardware technology in China automobile market, so as to bring the driving experience of self-driving cars to China consumers as soon as possible.
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