March 12, 2019 / 10:01 AM / 3 months ago

Volkswagen CEO says he has not considered taking a minority stake in Waymo

Herbert Diess, CEO of German carmaker Volkswagen addresses the media during the annual news conference at the Volkswagen plant in Wolfsburg, Germany March 12, 2019. REUTERS/Fabian Bimmer

WOLFSBURG, Germany (Reuters) - Volkswagen has not considered taking a minority investment in Google’s autonomous cars project Waymo, Chief Executive Herbert Diess said on Tuesday, adding that talks about developing self-driving cars with Ford continue.

The German carmaker said developing self-driving cars requires investments amounting to a high single digit billion euros amount, costs that would better be shared with a potential partner.

“We are in good talks with Ford,” Diess said, adding that Volkswagen had been in talks with numerous potential partners, including Waymo.

“The question is how do you make this technology safe, that is the key question,” Diess said, adding that getting regulatory approvals and convincing authorities that self-driving cars are safe are key questions guiding VW’s thinking on alliances.

VW hopes to take a decision about a partnership this year.

Reporting by Edward Taylor; Editing by Michelle Martin

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