Sber and Volkswagen Group Rus announced the signing of a memorandum of understanding in the framework of the 24th St. Petersburg International Economic Forum. The companies agreed on closer cooperation to develop their collaboration in new industries and sectors, which would allow them to access new markets, exchange information on prospects for development and innovation, and boost the efficiency of their own business models and processes.

In particular, Sber will be able to provide IT for and implement its cloud tech-based and AI-powered solutions in Volkswagen Group Rus vehicles.

The memorandum also focuses on startups and research and development around electromobility infrastructure. The document also envisages the provision of information and analytical support while collaborating on projects.

The provisions of the memorandum stipulate the creation of road maps, project implementation plans, and the development of models, solutions, and technologies under specific conditions. A section is dedicated to ESG transformation work, which entails responsible financing, efficient resource management, reduction of greenhouse gas emissions, and social and educational programs.

It is important to us that Sber's technologies be used to improve the lives of the people around us. Our partnership with Volkswagen Group Rus, one of the biggest investors in the Russian automobile industry, will help us optimize the internal processes of our companies, access new markets, and ensure the best customer experience. On the one hand, the memorandum signed has a technological orientation, and on the other hand, it reflects our interest in minimizing our impact on the environment. I think this is an excellent example of a responsible business approach in order to ensure sustainable development in the name of future generations.

Herman Gref

CEO, Chairman of the Executive Board, Sberbank

We are impressed by the transformations Sber has undergone over the past few years and are glad to begin collaborating with this successful, hi-tech, and innovative company. There are a variety of industries that we are interested in when it comes to potential for innovative development, e.g., autonomous driving technologies or new mobility formats. We are pleased to have reached an agreement with Sber and are certain that it will open new avenues for us, whether in the development of completely new solutions or increasing the efficiency or profitability of existing projects.

Stefan Mecha

General Director, Volkswagen Group Rus

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Sberbank of Russia published this content on 04 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 June 2021 14:52:05 UTC.