All Manufacturers Becoming Digital Tech Companies
Times of India reports that BMW's new chief executive Harald Krueger plans to overhaul the carmaker's strategy to make it fit for the digital future of driving, he said on Tuesday. BMW teamed up with Germany's other two premium carmakers to buy Nokia's high-definition mapping business for 2.5 billion euros ($2.7 billion) this week to protect its access to key technology for connected and self-driving cars.
Krueger, who took over in May, said the strategy the company adopted in 2007 that was designed to guide it until 2020 needed to be updated. He was speaking to analysts on a call to discuss second-quarter results. "Many trends have intensified or accelerated dramatically. Above all, digitisation and the associated technical possibilities are set to change the automobile and its fundamental role in our society," he said.
All manufacturers will now have to become digital tech companies also in this Internet of things age. And it looks like all major digital tech companies are getting into manufacturing.