Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Volkswagen Group (through its affiliate CARIAD) on the establishment of a joint venture in China between Volkswagen’s automotive software company CARIAD and Horizon Robotics, one of China’s leading providers of computing solutions for smart vehicles. Under the terms of the agreement, Volkswagen holds a 60 per cent stake in the joint venture, known as CARIZON. Volkswagen expects to invest a total of approximately €2.4bn in the cooperation with Horizon Robotics.
This transaction marks an important milestone for Volkswagen to drive forward the development of automated driving in China. Together, Volkswagen/CARIAD and Horizon Robotics aim to develop technology that can integrate numerous functions for autonomous driving onto a single chip.
A large cross-regional, multidisciplinary Freshfields team advised on the transaction, led by partner Alan Wang and including counsel Ya Ma, senior associate Peter Li, and associates Allen Yan and Sunny Min. IP/Commercial advice was provided by partner Richard Bird and associate Jingyi Chiew. Antitrust advice was provided by partner Ninette Dodoo and senior associate Tracy Lu. Disputes advice was provided by partner Xin Liu.
