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Some 1,200 developers at BMW 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 cars independently.
Carmakers - Plans - Forces - Technology - February
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 finalised the agreement and that they expected the technology to be deployed in mass-market vehicles from 2024.
Year - BMW - Daimler - Germany - Carmakers
Earlier this year, BMW and Daimler, Germany's two biggest carmakers after Volkswagen, both issued profit warnings earlier this year.
Facing headwinds from international trade conflicts and narrowing margins due...
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