BMW Group has announced it intends to spend as much as €500 million (£427 million) on new vehicle technologies within the next ten years through its i Ventures division. The cash will be employed to back startups focusing on areas for example autonomous driving and mapping that will help BMW to create its cars more intelligent and efficient.
The announcement, made on BMW Group's website on Monday, may come as relatively recent automotive company Tesla is constantly on the gain traction on the market. Founded this year having a $100 million (£80 million) fund to experience with, i Ventures goes via a fairly major change right now. Its HQ has been relocated from New You are able to to Plastic Valley and also the organisation has been given a greater degree of autonomy in order that it can move quickly on startups it wants to purchase or work with. BMW i Ventures can also be likely to begin searching at startups in Asia and europe instead of only the US, that is where i Ventures has typically focused. Since its formation, BMW i Ventures has completed greater than 15 investments in a variety of mobility-related startups. In 2014, for instance, BMW i Ventures backed San Francisco's RideCell. The automotive giant has utilized RideCell's technology in ReachNow, BMW's vehicle discussing service in america. RideCell's technologies have been "accountable forInch the IT platform and all sorts of customer interfaces employed for reservations and billing, based on BMW. Comments are closed.
|
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
July 2016
Categories |