BMW suffered investment division in Silicon Valley
BMW increased investment in emerging technologies, in particular self-managed vehicles. The German automaker said that the department carries venture funding in Silicon Valley, and increases the size of the fund to EUR 500 million, which it plans to spend over 10 years. The company has created iVentures fund in 2011 in New York City with an initial capital of $ 100 million. BMW increases the size of the fund against the backdrop of attempts to develop autonomous driving technology faster than their new competitors, such as Alphabet and Uber. Many manufacturers of auto parts and cars have already created in Silicon Valley such investment units, leading the search for new technologies.
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