German carmakers and technology firms form 5G telecoms association
A sign showing the name of German truck maker Daimler is pictured at the IAA truck show in Hanover, September 22, 2016. REUTERS/Fabian Bimmer
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
FRANKFURT (Reuters) - German car makers Audi, BMW
The pact is another example of Germany's premium carmakers collaborating to build technology expertise necessary to take on new rivals like Uber [UBER.UL] and Google (NASDAQ: GOOGL) which are also working on autonomous driving technology.
The new alliance, branded the 5G Automotive Association, will "develop, test and promote communications solutions, support standardization and accelerate commercial availability and global market penetration," the founders said in a statement.
One of the aims of 5G, the technology standards for the next generation of much faster and more reliable mobile telecoms networks, is to enable a wide variety of devices to connect up and operate via the Internet - the "Internet of Things."
Network equipment providers such as Ericsson and Nokia have said the 5G technology currently in development could be available for use as early as next year but mass-market upgrades to mobile networks are not expected until some time around 2020.
A spokesman for the newly formed partnership said there were talks with several network operators to join the association, declining to give any names.
Last year BMW, Daimler and Volkswagen's
(Reporting by Harro ten Wolde and Ilona Wissenbach; Editing by Greg Mahlich)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Qualcomm (QCOM), NXP Semiconductors (NXPI) Deal Could be Announced Next Week - Bloomberg
- Chinese diplomat discusses border security with North Korea
- Stay and fix the ICC, African Union hopeful urges peers
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!