BMW has realized the importance of tech firms in manufacturing smart cars

BMW has realized the importance of tech firms in manufacturing smart cars

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While looking at the cars automated future it is no doubt that car companies and tech firms have to work mutually to design a better and more appealing smart car. BMW’s new Chief Executive Officer Harald Krueger has echoed such future vibrations. He said that the firm is open to looking enhanced partnerships with software and computer companies like Apple Inc. (NASDAQ:AAPL), according to the German newspaper Sueddeutsche Zeitung.

The firm has realized the importance of tech firms in manufacturing next generation cars more likely self-driving cars while Apple has been studying how to make a self-driving electric car. New CEO Krueger is giving new life to BMW’s strategy to hook up with the modern technological world.

Apple’s Chief Executive Tim Cook visited BMW’s headquarters last year and senior Apple executives also went to the carmaker’s Leipzig factory to see the manufacturing process of the company’s i3 electric car, based on Reuter reports.

The dialogue between Apple and BMW faced a bump on leadership shuffle at BMW. But now the new Chief Executive is promising to make partnerships with tech firms.

“Fundamentally, both partners need to profit from the cooperation, otherwise it will not last. And both companies need to share the same principles, for example with regard to data security,” Krueger is quoted as saying in Monday’s Sueddeutsche.

Upon being asked whether BMW had explored manufacturing a car together with Apple, and whether he still sees the company as a potential partner, Krueger said: “Let me answer in general terms. There is something which makes BMW Group and Apple very similar. Both are companies with strong brands.”

The other main reason behind the interruption in dialogue between Apple and BMW was Apple’s desire to develop its own passenger car, source told Reuters. But BMW is highly cautious in sharing its cutting-edge manufacturing technology to others.

Nowadays firms are increasingly turning their focus to smart-cars. The firms are heavily investing in this sector as the smart cars are so-called the future of the car industry. For this reason it is important for the car firms to couple with tech firms for making better and reliable smart cars.

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I cover technology, utilities and biotechnology for Markets Morning, and I help out occasionally with other industry sectors. I've written about investment and personal finance topics for more than 20 years from a lowly copywriter to editor-in-chief, so I've done a little bit of everything. For what it's worth, I have a BA from Duke University and an MBA from Rollins College. I'm married with one daughter, and that's worth more than everything else put together.

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