Why Magna International Joined BMW's Self-Driving Car Effort
Giant auto industry supplier Magna International (NYSE: MGA) has stepped into the self-driving fray. Magna said that it has signed on to an existing partnership led by BMW AG (NASDAQOTH: BAMXF), Intel (NASDAQ: INTC), and Intel subsidiary Mobileye that aims to develop a self-driving vehicle "platform" by 2021.
Magna, a longtime BMW supplier, said that it is joining the BMW-Intel-Mobileye partnership as a "Tier 1 technology integrator" that will help automakers "industrialize and customize" the self-driving control system developed by the partnership.
Magna CTO Swamy Kotagiri talked up the advantages of working in technology partnerships to develop autonomous vehicle systems:
Source: Fool.com
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