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The Web Widens: Fiat Chrysler, BMW, Daimler Hitch Rides In Autonomy, Ride-Hailing Race

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The Web Widens: Fiat Chrysler, BMW, Daimler Hitch Rides In Autonomy, Ride-Hailing Race

There’s a lot of intermarrying going on in the automotive space.

Amid pressure to match pace with accelerating developments in autonomous driving and ride sharing, a few major players either confirmed or were rumored to be exploring partnerships this week.

Finally In The Driver’s Seat

On Wednesday, Fiat Chrysler Automobiles NV (NYSE: FCAU) announced an alliance with the pre-existing team of BMW Group, Intel Corporation (NASDAQ: INTC) and Mobileye NV (NYSE: MBLY).

“In order to advance autonomous driving technology, it is vital to form partnerships among automakers, technology providers and suppliers,” Fiat Chrysler CEO Sergio Marchionne said in a statement. “Joining this cooperation will enable Fiat Chrysler to directly benefit from the synergies and economies of scale that are possible when companies come together with a common vision and objective.”

BMW, Intel and Mobileye have been working on a turnkey autonomous system to bring to market by 2021, and they intend to test 40 the system in 40 vehicles this year. Fiat Chrysler will contribute engineering and technical resources to the project, which may merit staff relocation.

Fiat Chrysler’s previous role in the autonomous movement had been more passive, with the firm supplying hybrid Pacifica minivans equipped with self-driving technology to Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL)’s Waymo.

Its latest position in the scene is said to improve the appeal for potential buyers. Automotive News reported Monday that “a well-known Chinese automaker” had placed a bid to acquire Fiat Chrysler, while others had expressed interest.

Hold The Cab

On the other end of the transportation sector, BMW is allegedly looking to expand its influence in the emerging ride-hailing culture.

The company may be in talks with Daimler AG (ADR) (OTC: DDAIY) to merge their Car2Go and DriveNow services, according to a Thursday Reuters report. The move would build a force meant to better compete with the likes of Uber and Lyft.

Related Links:

Economics Of Autonomy: The Big 3, Trucking And Insurance

Your Guide To Trading The Autonomous Vehicle Theme

The Autonomous Future: Munster’s 2020 Vision Of The Road

Posted-In: Automotive Manufacturers autonomous vehiclesTravel Top Stories Tech Media Trading Ideas General Best of Benzinga

 

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