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BERLIN/STOCKHOLM — Volkswagen Group is affairs a authoritative pale in truckmaker Volvo Group’s WirelessCar, a agenda account developer specializing in affiliated driving, for 1.1 billion Swedish crowns ($122 million), the companies said on Wednesday.
VW said WirelessCar technology would added its ambition of developing value-added casework for barter by enabling safe and abiding abstracts barter amid operating systems in its cars and a billow belvedere it is developing with Microsoft.
The German carmaker will buy 75.1 percent of WirelessCar in the deal, which will acquiesce Volvo to focus on bartering vehicles, its amount business back it awash Volvo Cars in 1999.
Volkswagen has said it aims to advance added than 11 billion euros ($12.6 billion) in electric vehicles, digitalization, free alive and advancement casework by 2023, with the aggregate appropriate for electric cars.
WirelessCar has its own technology belvedere and develops agenda casework like announcement and assurance and emergency breakdown casework for barter including Jaguar Land Rover, Daimler, Nissan and Volvo Cars.
The aggregation has added than 3 actor alive affiliated cars beyond the apple and is accepted to address revenues of about 500 actor crowns in 2018, Volvo Group said in its statement.
Volkswagen said it targets sales of added than 1 billion euros from 2025 through the WirelessCar platform, excluding attainable agent sales via the agenda platform, which will be attainable on adaptable phones or on in-car accessories in some models starting abutting April.
Volkswagen’s agenda boutique will action casework such as its parking app We park, its car block commitment account We bear and its car administration casework We Allotment or Moia.
Customers will additionally be able to book functions on demand, such as map abstracts for specific countries or abetting heating in winter months, VW said.
The belvedere for registered Volkswagen barter will additionally be accessible for third-party vendors, such as suppliers of music, movies and added infotainment.
The WirelessCar accord still has to be accustomed by antitrust authorities and is accepted to abutting during the aboriginal bisected of 2019.
On closing, the denial would aftereffect in a absolute appulse on Volvo Group’s operating assets of about 1.5 billion crowns and on banknote breeze of 1.1 billion crowns, Volvo said.
Volkswagen has an advantage to buy the actual allotment in WirelessCar, it said, abacus that it can additionally brainstorm befitting Volvo Group as a shareholder.
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