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Volkswagen, Bosch to cooperate on automotive software

by Mike Robinson

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© Reuters. FILEPHOTO: This is the VW logo at the location of the initial hearing in a class-action suit by Volkswagen owners for damages arising from the Volkswagen diesel emissions cheating scandal. The case was heard at the Higher Regional Court Braunschweig (Germany), September

FRANKFURT – Volkswagen (DE) and Cariad (software unit of Volkswagen) are closing in on an agreement for cooperation on automotive software. Handelsblatt reported that company sources cited by Handelsblatt.

The paper said that Volkswagen will invest three-digit millions euros as part of this deal.

Volkswagen hopes to challenge Alphabet (NASDAQ) and Tesla (NASDAQ) by bundling all of its software resources into Cariad.

Cariad scores high in Volkswagen’s Transformation Agenda. Herbert Diess is taking over as CEO for Cariad on Volkswagen’s Management Board this week, part of a reshuffle.

Diess believes software is the next battleground for the auto industry. It includes software that allows autonomous driving, as well as software services that can easily be downloaded over the internet.

Cariad receives 2.5 billion Euros ($2.8 Billion) each year from Volkswagen. Cariad declined to comment. Bosch wasn’t immediately available to comment.

($1 = 0.8841 euros)

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