Volkswagen shares rise, carmaker announces Nvidia self-driving tech partnership

Volkswagen shares are trading higher Monday a day after the German carmaker and AI tech specialist Nvidia, announced a new partnership. The tech firm is already in partnership with Tesla and Baidu and also announced another deal with Uber on autonomous car technology

Volkswagen shares rise, carmaker announces Nvidia self-driving tech partnership

Volkswagen shares are trading higher Monday, a day after the German carmaker and AI tech specialist Nvidia, announced a new self-driving car partnership. The tech firm is already in partnership with Tesla and Baidu and also announced another deal with Uber on autonomous car technology.

By 1005 BST, Volkswagen shares were trading 0.37% higher at €179.76. That’s the highest level for the carmaker’s shares since September 2015.

Autonomous vehicle investment

The deal with Nvidia, which was announced at the CES tech conference in Las Vegas, will place Nvidia self-driving technology into Volkswagen’s future autonomous fleet.

“Artificial intelligence is revolutionizing the car,” said Volkswagen CEO Herbert Diess to the CES audience.

“Autonomous driving, zero-emission mobility and digital networking are virtually impossible without advances in AI and deep learning. Combining the imagination of Volkswagen with NVIDIA, the leader in AI technology, enables us to take a big step into the future,” Diess said.

Nvidia’s founder and CEO Jensen Huang, said: “In just a few years, every new vehicle will be expected to have AI assistants for voice, gesture and facial recognition as well as augmented reality.”

“Volkswagen’s work with NVIDIA DRIVE IX technology will make that a reality. Together, we are building a new generation of cars that are safer, more enjoyable to ride in than anything that has come before, and accessible to everyone,” Huang added on stage.

Volkswagen committed to self-driving car future

Sunday’s announcement follows hot on the heels of another autonomous car partnership between Volkswagen and Aurora Innovation.

Aurora Innovation is already working hard on the engineering required to power self-driving cars safely and for a consumer market. The announcement of the agreement a the CES conference follows a six-month collaboration between the two businesses.

“Our aim is to create new Mobility-as-a-Service (MaaS) solutions which customers will be really passionate about because they have been tailored to the human with highest safety standards, best-in-class user experience and digital intelligence,” said Volkswagen’s chief digital officer, Johann Jungwirth.

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