Volkswagen wants to buy Huawei's self-driving car business

Huawei is going through hard times due to US sanctions, the manufacturer even had to sell its Honor brand so that it could develop further as an independent company. Now information has appeared on the network about the possible purchase of a division that develops for unmanned vehicles.

What is being sold and who is buying

A new report indicates that German automaker Volkswagen is in talks with Huawei about a possible acquisition of the division. Recall that Huawei does not produce its own cars (although there were such rumors), but it is successfully developing technologies for unmanned vehicles. The related division is a fast-growing enterprise that heavily relies on Huawei's rich technology and proprietary products to develop autonomous driving.

The deal is expected to be worth several billion euros, sources say. But neither Huawei nor Volkswagen have yet commented on this information.

But the deal can be beneficial for both parties. Huawei cannot continue full operation due to sanctions, and Volkswagen is also aiming for dominance in electric and self-driving cars. Moreover, China remains fertile ground for Volkswagen business. Indeed, this was the company's largest market in 2020 and the outlook remains optimistic.

A source: Manager Shop