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SEARCHVolvo has sold off 75% of its connected car unit to Volkswagen, allowing the Swedish luxury brand to focus on its commercial vehicles, reports Reuters.
Volkswagen acquired stake in Volvo’s WirelessCar technology for $122 million
Photo by Eric Gandarilla.
Volvo has sold off 75% of its connected car unit to Volkswagen, allowing the Swedish luxury brand to focus on its commercial vehicles, reports Reuters.
Volkswagen acquired stake in Volvo’s WirelessCar technology for $122 million, according to CNBC. The connected car unit is a digital service developer that specialized in connected driving.
Volkswagen recently announced that it would spend $50.2 billion electric vehicles, digitization, autonomous technology, and mobility services globally by 2023.
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