BMW names Vukotich as new head of autonomous driving development

0
© Reuters. A BMW logo is seen at a car dealership in Vienna© Reuters. A BMW logo is seen at a car dealership in Vienna

FRANKFURT (Reuters) – Germany luxury carmaker BMW (DE:) said on Saturday Alejandro Vukotich will be the new head of its driver assistance and autonomous driving development department from January 2019.

Vukotich will replace Elmar Frickenstein, who has been in charge of the department since it was created in May 2016 and who will retire after a three-month handover phase in March.

BMW in April concentrated its driver assistance and autonomous driving development in Unterschleißheim near its Munich headquarters.

BMW and its partners, including FCA, Intel (NASDAQ:) and Mobileye (F:) have 1,300 specialists working on the development of a technology stack for automated driving.

Earlier this year, BMW announced plans to increase research and development (R&D) spending to an all-time high of up to 7 billion euros ($7.96 billion) in 2018 as costs for developing electric and autonomous cars spike.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.