Volkswagen buys connected car unit from Volvo

Thursday, 20 December 2018 00:00 -     - {{hitsCtrl.values.hits}}

Berlin (Reuters): Volkswagen said it would take over Volvo’s WirelessCar, a Stockholm-based digital service developer, specialising in connected driving. The deal, which still has to be approved by cartel authorities, would make VW a 75% shareholder in WirelessCar, the company said on Wednesday, without disclosing financial details.

The transaction is expected to close during the first half of 2019, it added.