💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Volkswagen founds AI lab, in talks with potential partners

Published 01/31/2024, 05:01 AM
Updated 01/31/2024, 05:06 AM
© Reuters. A Volkswagen logo is pictured at Volkswagen's headquarters in Wolfsburg, Germany, April 22, 2016.     REUTERS/Hannibal Hanschke/File Photo
VOWG_p
-

BERLIN (Reuters) - Volkswagen (ETR:VOWG_p) is in talks with international technology firms about collaborating to create new digital prototypes for products and features using artificial intelligence, the carmaker said on Wednesday.

The company has founded a new 'artificial intelligence lab' to generate new product ideas, including possible cooperations with companies in the technology sector across China, North America and Europe, it said in a statement.

The aim is to generate early-stage prototypes in areas like AI-optimised charging cycles, predictive maintenance services and voice recognition.

"Exploratory talks are already underway with international tech companies on initial projects," it added, without providing further details.

The lab will not be housed inside Volkswagen's software unit Cariad or a specific brand, with the view of moving faster than other processes within the company would, a spokesperson said.

© Reuters. A Volkswagen logo is pictured at Volkswagen's headquarters in Wolfsburg, Germany, April 22, 2016.     REUTERS/Hannibal Hanschke/File Photo

Still, promising prototypes will be passed onto brands to proof and execute, and the supervisory board of the lab will include representatives from Volkswagen, Audi and Porsche.

Cariad, which has struggled with years of delays and overhauls, is currently developing a restructuring plan which reports say could involve cutting thousands of positions as the unit attempts to bring new software architectures onto the market.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.