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Last Updated : Dec 19, 2018 05:01 PM IST | Source: Reuters

Volkswagen buys connected car unit from Volvo

The deal, which still has to be approved by cartel authorities, would make VW a 75-percent shareholder in WirelessCar, the company said on Wednesday, without disclosing financial details.

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-percent 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.
First Published on Dec 19, 2018 04:52 pm
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