(Reuters) — Auto supplier Continental AG on Wednesday signed a strategic cooperation agreement with Chinese Internet company Baidu to develop autonomous and connected cars.
In a statement, Continental said both partners intend to develop technologies, products and business models that will provide solutions for automated driving, connected vehicles and intelligent mobility services.
“With our strategic collaboration, we will take intelligent mobility an important step further,” Continental’s Chief Executive Elmar Degenhart said.
Frank Jourdan, a member of the executive board of Continental and president of the chassis and safety division, and Qi Lu, group president and chief operating officer of Baidu, signed the agreement on Wednesday in Berlin, Continental said.
(Reporting by Edward Taylor)