VW Closes In on $1 Billion JV With Chinese Chipmaking Startup

Volkswagen AG is close to reaching a joint venture deal with Chinese autonomous driving startup Horizon Robotics Inc. that could see the auto giant make an investment of about $1 billion, according to a person familiar with the situation.

Talks between the two parties are at an advanced stage, the person said, asking not to be named because the discussions are private. The venture will focus on developing autonomous driving technologies and wireless connectivity software for VW vehicles, the person said.

Germany’s Manager Magazin earlier reported some of the details of the deal, saying it could be announced within days. ...