European New technology - Auto Industry: EU invests €20m in AI software for self-driving cars

The European Investment Bank (EIB) has granted a €20m loan to Hungarian company AImotive, the European Commission announced Friday. The money will be spent on research and development of artificial intelligence software for self-driving vehicles. The commission believes the EU should prepare for self-driving cars. "I'm glad we are doing this in Central Europe, where the automotive industry has a long history of success," said EIB vice-president Vazil Hudak.

Read more: EU invests €20m in AI software for self-driving cars