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MarketScreener Homepage  >  Equities  >  Xetra  >  BMW AG    BMW   DE0005190003

BMW AG

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BMW Partners With China's Tencent on Computing Platform for Self-Driving Cars

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07/19/2019 | 11:56am EDT

By Max Bernhard

German luxury car maker BMW AG and Chinese tech giant Tencent Holdings 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, 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 max.bernhard@dowjones.com; @mxbernhard

Stocks mentioned in the article
ChangeLast1st jan.
BAYERISCHE MOTOREN WERKE AG (PREFERENCE) 0.79% 48.32 Delayed Quote.-22.19%
BMW AG 1.26% 59.56 Delayed Quote.-15.76%
DAIMLER AG 1.76% 41.245 Delayed Quote.-10.16%
TENCENT HOLDINGS LTD -1.21% 326.4 End-of-day quote.3.68%
TENCENT HOLDINGS LTD End-of-day quote.
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Financials (EUR)
Sales 2019 98 863 M
EBIT 2019 7 393 M
Net income 2019 5 198 M
Finance 2019 15 553 M
Yield 2019 5,05%
P/E ratio 2019 7,55x
P/E ratio 2020 6,20x
EV / Sales2019 0,23x
EV / Sales2020 0,22x
Capitalization 38 615 M
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Mean consensus HOLD
Number of Analysts 31
Average target price 73,86  €
Last Close Price 59,64  €
Spread / Highest target 97,9%
Spread / Average Target 23,8%
Spread / Lowest Target -11,1%
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Managers
NameTitle
Harald Krüger Chairman-Management Board
Norbert Reithofer Chairman-Supervisory Board
Nicolas Peter Chief Financial Officer
Susanne Klatten Independent Member-Supervisory Board
Manfred Schoch Deputy Chairman-Supervisory Board
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