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Volkswagen plans to acquire Huawei's self-driving vehicle unit
Nowadays, every auto manufacturer in the world is in the race to bring self-driving cars to the market. So far Tesla seems to have a slight edge over the competitors, however current autopilot features require active driver supervision and does not make the vehicle autonomous.
German-based Manager Magazin reported last week that Volkswagen aims to compete with Tesla by purchasing Huawei's self-driving vehicle unit. The Chinese company mainly famous for its smartphones and 5G infrastructure has developed a top-notch autonomous driving tech.
According to Asian newspapers the two companies will form a joint venture with Volkswagen providing the funding and Huawei providing the technology. Presumably the deal size is $1.6 billion.
VW also plans to compete with Tesla in the EV market as the German automaker intends to produce 1.5 million electric cars by 2025.
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