Daimler And BMW To Invest Over $1 Billion On Transportation’s Future

Daimler And BMW To Invest Over $1 Billion On Transportation’s Future

Daimler and BMW, two behemoths in the automobile industry, are joining their resources in a joint venture bid that expands ride-hailing, autonomous cars, car-sharing, electric scooters, and electric car charging. The two firms declared that their aim is to invest $1.13 Billion on the affiliation, an eye-popping sum developed to make the rest of the sector take notice and sit up.

The decision comes in the middle of widespread doubt in the auto sector, with an ongoing trade war and dropping sales threatening to upend the industry. Against this condition, automakers are taking into new business alternatives and models to personal disruptive technologies such as self-driving cars as well as car ownership.

BMW and the parent firm of Mercedes-Benz, Daimler, think that by joining their efforts on these programs, they can rule the sector. But it is also about distributing the risk, so no one firm ends up losing too much if these options fizzle out.

On a related note, earlier Daimler executed a decision (that was many years in the making) by revealing its own electric truck (although diesel-fueled) equipped with semi-autonomous tech.

The German auto manufacturer also promised to manufacture the truck this year, with deliveries planned by the year end. It promised 500 Million Euros over the coming few years to the sustained development of an autonomous truck, and claimed that it has appointed hundreds of workers to take the technology forward. And just similar to what it did when it revealed the prototype edition in 2015, Daimler offered the media a ride in the truck to get a peep of what the future of trucking will seem like.

While there are a handful of Tesla Semi models on the streets now, and a number of big name firms have placed preorders for the big rig, it does not seem like a production edition is arriving shortly.

By George Montgomery

George Montgomery manages the position of editor at Industry News Focus. His vast experience in business analysis and finance gives him a deep and accurate view of market trends. He has a thorough knowledge of the trends and actions of the market, resulting in a stock loaded into your portfolio. George also includes research and decisive interviews with market professionals and organizations.