German carmaker Volkswagen is pushing forward to secure its future cars that will be connected to the internet of things and can drive themselves.
However, instead of teaming up with another carmaker, VW has set up CyMotive Technologies with the help of a former Isreali spy chief.
Cymotive Technoligies has a split ownership system with Volkswagen owning 40 percent of the newly minted company. The remaining 60 percent of the company is owned by Yuval Diskin, the former head of Shin Bet, Israel's internal security service, along with two of his former colleagues who also had senior posts in the Shin Bet.
The new cybersecurity firm has its offices in the Israeli city of Tel Aviv and will soon open another office in the German city of Wolsburg, which is the city that Volkswagen calls home.
Cymotive Technologies will develop cybersecurity systems for Internet-connected cars and self-driving vehicles. By forming the new security firm, Volkswagn has also reaffirmed its intention to bring autonomous vehicles on the road while ensuring that current cars that are connected to the internet will soon be safe from the claws of malicious hacker.