Volkswagen is likely saying auf wiedersehen to many of the executive board members in its software division, Cariad, but has not yet disclosed any names.
The unit has repeatedly gone over budget and failed to meet many of its targets, contributing to significant delays for the Porsche e-Macan and Audi Q6 e-tron models. The lack of progress has also pushed back the launch of their structural car software for autonomous driving by at least two years to approximately 2028. 🐌
According to a study compiled from automaker financial reports, Wards Auto has found that although Volkswagen overall spends more money on research and development (R&D), GM has devoted a larger percentage of its 2023 profits to it.
The numbers reveal that companies such as Toyota, Stellantis, and Hyundai, who have been slower in EV development and are currently spending less on research and development, will need to significantly increase R&D expenditures as they ramp up their electrification efforts (potentially impacting their profitability and stock prices). 🧑🔬
Despite their nominal R&D budget, Hyundai is shelling out some serious innovation with a "crab-driving" prototype that could forever solve the plague of parallel parking.
In their latest video they showcase their e-Corner technology, making all four wheels swivel 90 degrees and resulting in some pretty snazzy sideways scuttling. 🦀