BMW’s venture capital fund, BMW i Ventures announced an investment in San Francisco based AutoFi, a technology company transforming the way cars are bought and sold in the markets. AutoFi is a retail platform that helps car buyers to purchase and finance a car from a variety of financial institutions within or outside the dealership.
The major investments and joint ventures by BMW are mentioned below:
January 2020: BMW i Ventures announced an investment in an optical AI software creator Alitheon. Alitheon is a startup, developing generative engineering software aimed at automating the product development process. The company will use the new funding to expand its FeaturePrint technology across the defense, luxury goods, aerospace, aviation services, automotive, semiconductor, additive manufacturing, and pharmaceuticals.
December 2019: BMW Group invested around US$441 million at its Dingolfing vehicle plant for the production of the BMW iNEXT in China. The investment will help the plant to produce the right mix of fully-electric vehicles, plug-in hybrids, and models with combustion engines to suit demand on a single assembly line. The Group will launch BMW iNEXT in 2021. The BMW iNEXT will become the Dingolfing plant’s first pure battery-electric vehicle from 2021. BMW Group and Great Wall Motor company of China have launched a new joint venture, Spotlight Automotive Limited, for driving e‑mobility forward by building a plant in China. At the new plant, the Group will produce fully-electric models of its MINI brand.
November 2019: The BMW Group escalated its vehicle electrification drive with an increased order volume from leading Chinese batter cell supplier Contemporary Amperex Technology Co. Ltd (CATL) and Samsung SDI. BMW also announced a long-term supply contract for its fifth-generation electric drive trains with its second battery cell supplier, Samsung SDI.
October 2019: BMW i Ventures announced an investment in CelLink, a San Carlos, CA-based manufacturer of flexible circuit technology. CelLink’s circuit technology delivers high-conductance, large-area, lightweight, and low-cost flexible circuits
September 2019: BMW i Ventures invested in Trifacta, the global leader in data wrangling. The new invest will accelerate the companies intelligent automation platform. Trifacta’s unique combination of human-computer interaction, machine learning & scalable data processing will guides users for exploring and preparing data.
February 2019: BMW Group and Daimler AG announced pooling of their their mobility services to create a new global player providing sustainable urban mobility for customers. The two companies announced investments of more than $1.1 billion in total to develop and more closely intermesh their offerings for car-sharing, ride-hailing, parking, charging and multimodal transport.
About BMW i Ventures
BMW i Ventures, is a venture capital fund of German automobile manufacturer BMW Group. BMW i Ventures invests money and resources in startups in the fields of autonomous driving, artificial Intelligence and data, digital car and automotive cloud, e-mobility, industry 4.0, shared and on-demand mobility. BMW i Ventures invest in all stages from seed and incubation to growth companies.
About BMW Group
The BMW Group is a leading premium automobiles manufacturer with top-selling brands like BMW, MINI, Rolls-Royce, and BMW Motorrad. The Group is also involved in motorcycles production and premium financial and mobility services. The BMW Group’s global sales network is based in more than 140 countries, and has 31 production and assembly facilities in 15 countries. The Group employs a workforce of close to 135,000 employees worldwide.
BMW Group is a pioneer in e-mobility, and a leading supplier of electrified vehicles in world. The Group is planning to have more than one million fully-electric vehicles and plug-in hybrids on the roads worldwide by the end of 2021.