BMW and Daimler team up to develop automatic driving to deal with the profit crisis

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According to a report by Reuters on July 4, BMW and Daimler announced on the 4th that they will expand cooperation, focus on developing resources, and jointly develop auto-driving related technologies to cope with the industry situation of falling profits.

  The two companies said in a joint statement that they will jointly focus on the development of assisted driving systems, highway autopilot and automatic parking technology, which will be applied independently to their respective companies’ vehicles; the agreement has been finalized and is expected to start from 2024 New technologies will be applied to mainstream models; the cooperation between the two parties is not exclusive and the technology will be provided to other licensed OEMs.

  In February of this year, the two automakers announced for the first time that they planned to jointly develop autonomous driving technology, saying they were discussing the possibility of expanding cooperation.

  Automakers face multiple pressures: international trade conflicts, stricter emissions regulations, core technology R&D competition, and more.

  In May of this year, BMW issued a profit warning. In June, Daimler issued a profit warning, which is the third time in its last 12 months to issue a profit warning. 

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