Aptiv, Audi, and TTTech Auto collaborated to develop a central driver assistance controller for automated driving to be used in Audi vehicles.
see photosAptiv will invest $228 million in TTTech Auto, while Audi is investing $57 million.
Auto technology supplier Aptiv plc and Volkswagen AG’s Audi brand are investing a combined $285 million in vehicle software company TTTech Auto, giving the Austrian firm a valuation of $1 billion, the companies said. TTTech Auto designs software that auto manufacturers can use to manage the data flowing through the sensors and safety systems used to automate driving. The company’s MotionWise software also helps engineers develop new automated driving and safety software more quickly.
Aptiv will invest $228 million in TTTech Auto, while Audi will invest $57 million, the companies said in a statement.
Established auto makers like Volkswagen are racing to gain more software expertise through acquisitions, hiring drives and equity investments as they try to catch up with electric vehicle leader Tesla Inc.’s ability to rapidly improve vehicles using software upgrades. are doing.
TTTech Auto was formed in 2018 by aerospace firm TTTech Group, South Korean technology company Samsung, Audi and chipmaker Infineon.
“We want to deliver aerospace safety at an automotive cost,” said George Kopetz, chief executive of TTTech Auto, in an interview.
Aptiv is working to expand its business by supplying hardware and software for electric vehicles and automated driving systems, with annual revenues of $15 billion. Aptiv, Audi, and TTTech Auto collaborated to develop a central driver assistance controller for automated driving to be used in Audi vehicles.
With the new capital, Kopetz said TTTech plans to expand into Auto Asia, seek potential acquisitions, and invest in the development of MotionWise software, which is currently used in about 2 million vehicles.
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