China has the world's fastest-growing electric vehicle market. The presence of a large number of local electric vehicle manufacturers has made the Chinese market highly competitive. The local market players have developed innovative solutions that focus on the specific needs of local clients. Due to this factor, Chinese consumers are increasingly choosing local EV brands. Whereas Volkswagen witnessed a decline in sales in 2021, as the company struggled to keep up with the tastes of Chinese consumers.
Volkswagen is altering its strategies for the Chinese market and repositioning its business to compete with the local players. The company is planning to make a huge investment to develop technological capabilities through a joint venture with Chinese startup Horizon Robotics. The collaboration between the two companies will allow Volkswagen to capitalize on Horizon’s technical know-how in the smart vehicles industry. Furthermore, collaborating with local market players will enable Volkswagen to efficiently cater to the specific needs of its Chinese customers.
Development of Technologically Advanced Chip for Autonomous Driving in China
The partnership between Volkswagen and Horizon will lead to the creation of a single chip that is integrated with several autonomous driving functionalities. The new technology will be available only for the company’s battery models. Furthermore, Volkswagen's collaboration with Horizon Robotics will allow it to gain expertise in autonomous technology, an area where it currently lags behind Chinese competitors in the electric vehicle market.
Germany
Netherlands
United States of America
Germany
Germany
South Korea
China
United States of America
Germany
China
Don’t wait - discover a universe of connected data & insights with your next search. Browse over 28M data points across 22 industries.
Access more premium companies when you subscribe to Explorer
Contact the team or request a demo to find out how our data can drive your business forward