Volkswagen-backed CARIAD and Horizon Robotics to form a joint venture in a €2.4bn deal.

Volkswagen-backed CARIAD, an automotive software company, and Horizon Robotics, a supplier of energy-efficient computing solutions for smart vehicles, agreed to form a joint venture, in a €2.4bn deal. “As one of the leading companies to commercialize and mass produce computing solutions of autonomous driving in China, we will bring in our expertise to our partnership with CARIAD to develop next-generation technologies for smart vehicle users,” Kai Yu, Horizon Robotics CEO.