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.
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