Investors are the company Aptiv, which specializes in automotive technology, and Audi. Founded in 2018, TTTech Auto offers a software platform for automated and autonomous driving that is open to all vehicle brands. Two million cars are currently running on the TTTech platform. TTTech Auto CEO Georg Kopetz sees the deal as proof “that it is also possible to find investors from Austria. Europe should not be written off”. TTTech Auto intends to use the money to expand its product portfolio and invest in its main product MotionWise, its software platform for highly automated driving. Expansion into other regions and strategic acquisitions are also planned.
For Kopetz it is clear that the development of cars is going in the direction of “software-defined vehicles”. This includes updating the software without having to visit the workshop. The biggest trends are coming from Silicon Valley and China, but with a strong equity base, a European company can also play a leading role in this industry, he said in an interview with APA.
Cars that are always online
The development is towards cars that are always online and are evolving from the automation of individual functions to more and more autonomy. Really autonomous driving, where the driver can read a book at the same time, is something that Kopetz believes will be possible on motorways in the second half of the decade. Autonomous driving in cities will initially be possible at best on selected routes – for example from the airport to the city center – or in logistics or for specific shuttle services. But cities would have to invest in infrastructure for this.
5G: support but not a requirement
TTTech Auto recently generated an operating performance of around 100 million euros and is not yet in the profit zone – but does not make any big losses either, says Kopetz. The company’s software controls and organizes the flow of data in real time between the many sensors in a car and systems such as the brakes. Information that comes into the car thanks to the 5G mobile communications standard is also important and makes driving even safer and more comfortable. “I think it’s a support, but not a requirement,” said Kopetz on the role of 5G in autonomous driving.
In this financing round, Aptiv brings in 200 million euros, Audi increases by 50 million euros. The parent company TTTech Group remains the largest owner of TTTech Auto with a third of the shares. They are followed by Audi and Aptiv ahead of Samsung and Infineon. Official and most important customers are currently the VW Group, the largest Chinese car manufacturer SAIC and the Korean Hyundai/Kia Group.
Source: Nachrichten
