The Stuttgart-based Bosch technology group buys as a financial investor in a Chinese Start-up that deals with the application of Artificial intelligence in the car. The company car-AI co. Ltd. has been affiliated in the previous spring of the navigation provider Navinfo and employs nearly 1000 employees in China, with the development of solutions for the “Internet of Vehicles”, so the use of Internet services in the mobility.
business correspondent in Stuttgart, Germany.
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Bosch was involved in the Robert Bosch Venture Capital (RBVC) in a financing round (Series A) in a total volume of 104 million dollars, the Stuttgart-based company. RBVC act as a financial investor planning to so one day an exit.
the buyer of the stake could be to market conditions, then theoretically, Bosch. For the group of research is Artificial intelligence (AI) focus, appropriate applications can be developed in many areas.
The money lenders in addition to Bosch are all from China or Taiwan: Tencent and Didi, Nio Capital and Advantech. The focus in China is for Bosch, an important Argument for the investment, said in Stuttgart. While in Germany, a car is virtually perceived as a finished product, give it to the Chinese market, a different openness to use in cars also third-party solutions.