BUSINESS | BMW and Daimler Team Up On Automated Driving

Bucharest, Romania – Some 1,200 developers at BMV and Daimler will team up to develop automated driving technology, the companies said on Thursday, the latest carmakers forced to pool their development resources at a time of shrinking margins.

The strategic partnership will focus on developing technologies for assisted driving systems, automated driving on highways and automated parking, BMW and Daimler said in a statement, adding that the two companies will implement the technologies in their care independently.

The two carmakers first announced their plans to join forces on automated driving technology in February, saying they were discussing the possibility of extending their partnership.

BMW and Daimler on Thursday said they had finalized the agreement and that they expected the technology to  be deployed in mass-market vehicles from 2024.

Earlier this year, BMW and Daimler, Germany’s two biggest carmakers after Volkswagen, both issued profit warning earlier this year.

Europe’s biggest carmaker Volkswagen and Ford are in the final stage of talks on a strategic alliance to jointly develop self-driving and electric cars. Newspaper Handelsblatt said the deal was set to be approved on July 11.


  • BUSINESS | Too Early To Assess Impact Of Coronavirus On EU Economy: Commission
    BRUSSELS – It is still too early to assess the impact of the coronavirus outbreak on the European Union economy, the bloc’s economics commissioner Paolo Gentiloni said on Wednesday. ‘An assemenet and a serious forecast is not yet possible’, Gentiloni told a news conference in Brussels, acknowledging that there had already been ‘a partial materialization’ … Read more
  • BUSINESS | Saudi PIF Unit SEVEN To Build Them Parks And Entertainment Centers Across The Kingdom
    JEDDAH | The Saudi Entertainment Ventures Company (SEVEN) plans to develop them parks and entertainment centers around the country. Plans include 20 entertainment destinations, 50 cinemas and two large them parks in prime locations across the Kingdom, the Public Investment Fund unit said in a  statement on Tuesday. Each complex will feature several entertainment and … Read more
  • BUSINESS | OPEC+ Will Respond Responsibly To Spread Of Coronavirus, Says Saudi Energy Minister
    RIYADH | Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said on Tuesday he was confident that OPEC and its partner oil-producing nations, the so-called OPEC+ group, would respond responsible to the spread of the coronavirus. He also said Saudi Arabia and Russia would continue to engage regarding oil policy. ‘Everything serious requires behind attended … Read more
  • BUSINESS | Goldman Steps Up Staff Travel Restrictions As Coronavirus Spread
    LONDON – Goldman Sachs has restricted all business travel to, from and within South Korea and the Northern Italian regions of Lombardy and Veneto in the wake of the coronavirus spread, a staff memo seen by Reuters on Tuesday shows. The Wall Street lender has also advised staff to postpone all non – essential travel … Read more
  • BUSINESS | Saudi Aramco launches largest shale gas development outside U.S.
    DAMMAM | SAUDI ARABIA – – Saudi Aramco is launching the biggest shale gas development outside of the United States to boost domestic gas supply and end the burning of oil at its power generation plants, Chief Executive Officer Amin Nasser told Reuters on Monday. The world’s top crude oil exporter had for years battled … Read more
  • BUSINESS | Aramco Says Received Approval For Jafurah Gas Field Development
    RIYADH | SAUDI ARABIA – – Saudi Aramco said on Saturday it had received regulatory approval to develop Saudi Arabia’s Jafurah non-associated gas field and expects production to start in early 2024. It said output would reach around 2.2. billion cubic feet per day of sales gas by 2036, with an associated 425 million cubic … Read more

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s