Volkswagen has been in late discussions with Chinese auto tech startup Horizon Robotics to form a joint venture that would cover areas such as autonomous driving technologies and in-car connectivity software for VW cars, according to a Wednesday report by Bloomberg. The German car giant is reportedly planning to invest $1 billion in the project, and the deal could be announced within days, the report said. The automaker’s sales slid 14.1% year-on-year to 3.3 million vehicles in China in 2021 amid rising competition from newer rivals such as Tesla, BYD, and Nio. [Bloomberg]