There is a steady but unmistakable transformation underway in the global automotive industry. Most of the major automotive giants have been investing increasingly higher amounts of capital into the development of electric vehicles. Additionally, some of the largest names in automobiles have been teaming up to consolidate their considerable resources in order to market the next generation of electric vehicles. Banking on this wave of transformation, German automotive behemoth BMW has decided to enter into a partnership with Jaguar Land Rover to make the difficult transition from the conventional internal combustion engine to an electric one.
The collaboration between the two giants is expected to have been finalized in an effort to hasten the transition and bring the expensive technology to the mass market and make the cars affordable. Experts related to the matter have stated that collaboration such as this one could benefit both the companies in terms of shared talent, research, technology as well as costs. Furthermore, it is also a point to be noted that a combined effort on part of such prestigious brands would quicken the transition of the industry to electric vehicles.
BMW and Jaguar are not the only ones to enter into a partnership. Volkswagen and Ford have teamed up to in order to cater to a changing market. BMW and Jaguar have also entered into an agreement with Daimler to merge their urban mobility services into a single entity.
The future of the auto industry is definitely electric and it might be closer than most people previously imagined.