Volkswagen buys self-driving car technology worth $4 billion

At Volkswagen they are immersed in the development of new technology that will be incorporated into their marketing vehicles for years to come, and that is nothing more than their own. autonomous driving, Several company vehicles have already been seen testing in various German cities, with Herbert Diess, former Volkswagen Group CEO, testing the technology on an ID. Buzz through the streets of Munich a few months back. Now, the German company is making progress in getting a vehicle with autonomous capabilities and Acquires $4 billion worth of hardware and software technology from Innoviz Technologies,

The agreement was signed with the technical division of Volkswagen, CARIAD, and includes the supply of components currently needed to achieve the aforementioned autonomous driving of its vehicles. among them are LiDAR sensor that Volkswagen Group will use to drive support systems from its next launch, Later they will also be incorporated into components for full autonomous driving.

As confirmed by Inoviz CEO and co-founder Omar Keelaf, the company’s board is absolutely delighted with the completion of this agreement, as it will represent a significant advance in the achievement of autonomous driving technology, as well as a safer Will support personal mobility. , Another advancement to be provided to Volkswagen would be Management software for the sensors and cameras located around the model in question.

Volkswagen signed a deal with Qualcomm for its autonomous vehicles technology
Volkswagen is already testing autonomous technology on its ID. Buzz in Germany

today, Innoviz Technologies has an order book valued at over $6.6 billion, which is 13 times the valuation of the company itself, which is about $500 million. The deal with Volkswagen itself is already about 8 times the company’s price.

However, this is not the only agreement closed by Volkswagen Group and its technical division CARIAD to achieve autonomous driving of their vehicles. In recent months they have done the same with Bosch, Qualcomm and STMicroelectronics. In addition, the Automobile Group invested $2,600 million in itself. start up American Argo AI, in addition to several billion dollars in development of its autonomous driving technology.

They claim that the LiDAR sensor technology provided by Innoviz to the Volkswagen Group is one of the most developed in the world., Its own manufacturers assure that it can perceive and see better than a human driver, thereby reducing the chances of error in its daily operation. Soon this technology will also be supplied BMW, who have an agreement for these LiDAR sensors.

The Volkswagen Group currently sells specially adapted vehicles, such as the Volkswagen ID, on the streets of German cities. Buzz is continuing the development test with this technology that was presented a few months ago. He expects the automobile group to take the first steps on this progress by the end of this decade.

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