Tencent (PK) (USOTC:TCEHY)
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By Max Bernhard
German luxury car maker BMW AG (BMW.XE) and Chinese tech giant Tencent Holdings Ltd. (0700.HK) are collaborating on a computing platform to develop self-driving cars in China, the companies said Friday.
An exchange of ideas, for example in the field of simulation for self-driving technology, is also possible, a BMW spokeswoman said. However, "intellectual property for automated driving is not included in the partnership," she added.
Under the deal, Tencent, which is behind the popular instant messenger apps QQ and WeChat and also develops games, will provide IT infrastructure and an analytics platform for data processing. The platform will allow BMW to develop self-driving technology that represents "a better fit for the specific driving scenarios in China," Jochen Goller, head of BMW's China operations, said.
BMW said both partners "will comply strictly with Chinese laws and regulations on data security, prevent data-security risks and ensure data compliance using Tencent's security expertise."
The companies did not disclose any financial details of the project.
BMW didn't say whether the partnership will include Daimler AG (DAI.XE), the maker of Mercedes-Benz vehicles. The two former rivals teamed up earlier this year to develop self-driving cars.
--Yifan Wang contributed to this article.
Write to Max Bernhard at email@example.com; @mxbernhard
(END) Dow Jones Newswires
July 19, 2019 11:55 ET (15:55 GMT)
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