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By Nathan Allen
Bayerische Motoren Werke AG (BMW.XE) said Tuesday that it will join forces with Baidu Inc. (K3SD.SG) to develop autonomous-driving technology in China.
As part of the agreement, BMW said it will take a seat on the board of Baidu's autonomous-driving platform Apollo. Since launching in July 2017, Baidu has signed up more than 100 technology and automotive companies to participate in the platform, including Ford Motor Co. (F), Daimler AG (DAI.XE) and Intel Corp. (INTC).
Auto makers are increasingly expanding beyond their traditional business of manufacturing vehicles and looking to participate in the development of new technologies shaping the sector, such as autonomous driving, car sharing and ride hailing.
The BMW-Baidu partnership is the latest in a series of collaborations announced between German and Chinese companies during Chinese Premier Li Keqiang's visit to Germany this week.
Continental AG (CON.XE) and Didi Chuxing said they will work together to develop intelligent and connected vehicles, while BASF SE (BAS.XE) said Monday that it is considering a $10 billion investment China's Guangdong province.
"Strong ties between automotive and tech leaders are our key to success in the marathon towards autonomous driving," BMW's board member for development, Klaus Froehlich, said.
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(END) Dow Jones Newswires
July 10, 2018 04:26 ET (08:26 GMT)
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