cool hit counter Bid $13.7 billion for rumored VW to buy 10 percent of Waymo_Intefrankly

Bid $13.7 billion for rumored VW to buy 10 percent of Waymo


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Recently, Buycar.co.uk learned from foreign media that Volkswagen (hereinafter referred to as VW) is exploring a partnership with Waymo, the self-driving company of Google's parent company Alphabet, in the field of mobile mobility services in Europe.

VW CEO Herbert Diess wants to invest 12 billion euros ($13.7 billion) to buy a 10 percent stake in Waymo, but the rest of VW's board of directors all think the price is too high and therefore don't agree, according to the report, which VW declined to comment on.

In the field of self-driving technology, Waymo is arguably the leader in the field. It announced a partnership with Jaguar to build 20,000 driverless electric cars earlier this year, and later in the year it promised to launch a commercial service for fully autonomous vehicles. The service will reportedly be launched first in Phoenix, Arizona, and will later be available in other cities across the US.

In fact, since taking up the post of VW CEO at the start of April this year, Dees has pledged to adapt VW to the rapid changes that are taking place in the automotive industry and has highlighted innovation as a key pillar of that effort, and prior to Waymo, the VW Group has been in talks with a number of companies regarding self-driving vehicles, Aurora Innovation being one of them.

In August of this year, VW tried to acquire Aurora Innovation but was ultimately rejected. That's because the Palo Alto, California-based company wants to remain independent and work with multiple automakers. The company is said to focus on the development of underlying technology solutions for self-driving cars and provides car companies and other manufacturers with the ability to build autonomous driving systems and services by providing integrated technology solutions.

At present, although autonomous driving is a very future-proof technology, due to the complexity of the technology and the high demand for capital, acquisition or cooperation has become a new choice for car companies to make efforts in the field of autonomous driving.

Going back to the rumors of this partnership, it's actually a reflection of both sides having their own needs. For its part, VW plans to develop a double-digit self-driving fleet by the end of this year and make the fleet triple-digit in size by 2019. As for Waymo, its CEO had said in June this year that Waymo would eventually enter the European market and would most likely partner with local companies rather than go it alone. So it seems that it may only be a matter of time before the two sides work together.

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