Volkswagen shares stronger: Volkswagen chief Dies wants to get involved in big data business | 11/1/21

VW President Herbert Diess relies on marketing data about the car.

“We now have the opportunity – perhaps the last – to play an important role in the world of data economy,” said Volkswagen Group Chairman at Automobilwoche. “For the foreseeable future, the automobile will likely be the last major software area that still needs development.” Diess is particularly interested in software, autonomous driving and, above all, data collected from cars.

Dies believes that this may be the last chance for Europe to get involved in the big data business. With the Autonomous Driving Law passed by the Bundestag in June, Germany has established the legal framework. “The data-driven car with all its functionality and future potential has received a tailwind from new legislation on autonomous driving,” said Diess. So my clear plea is: let us seize the opportunity and assert ourselves as Europe in this competition.

According to the ideas of the head of Volkswagen, the group will be transformed into a technology-based mobility provider by 2030. Data plays a central role in this. “When cars go autonomously and become internet devices, there is significant added value for customers and manufacturers,” Deiss said. Bookable on-demand jobs, over-the-air applications and new mobility services will be created around the purchased car rental company, Europcar. Sovereignty over the data is necessary for this.

“The car is the largest collector of information and data one can imagine,” Deiss emphasized. “Processing information in a car will go beyond everything we’ve known from, say, smartphones.”

In XETRA trading, Volkswagen shares temporarily rose 0.67 percent to 195.12 euros.

Frankfurt (Dow Jones)