New Volkswagen Unit Aims For Market-Ready Self-Driving Tech

Date : 10/28/2019 @ 11:35AM
Source : Dow Jones News
Stock : Volkswagen AG (VOW3)
Quote : 179.14  -2.16 (-1.19%) @ 4:34PM

New Volkswagen Unit Aims For Market-Ready Self-Driving Tech

Volkswagen (XE:VOW3)
Historical Stock Chart

3 Months : From Oct 2019 to Jan 2020

Click Here for more Volkswagen Charts.
   By Max Bernhard 
 

Volkswagen AG (VOW.XE) said Monday that it has established a new subsidiary to bring a self-driving system to market maturity and build up know-how.

The German car maker said the new unit, Volkswagen Autonomy GmbH, will focus on autonomous vehicle technology from level four. The Society of Automobile Engineers classifies self-driving technology by levels zero to five, where level five means no human intervention is required at all during driving.

"The first application cases are planned in the commercial sector. Volkswagen Commercial Vehicles...will develop and build special-purpose vehicles such as robo taxis and robo vans," Volkswagen said.

The new business will be headquartered in Wolfsburg and Munich and have a subsidiary in Silicon Valley, while the establishment of another subsidiary is planned in China for 2021.

"We plan to start commercializing autonomous driving at a large scale around the middle of the next decade," said Alexander Hitzinger, who will be managing the new unit.

 

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

 

(END) Dow Jones Newswires

October 28, 2019 07:20 ET (11:20 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.