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A consortium that includes Magna International, BMW and Intel Corp., is working on a self-driving flexible vehicle platform that will be available by 2021 and can be adapted for use by other car companies in addition to BMW.Aaron Vincent Elkaim/The Canadian Press

Canadian auto parts giant Magna International Inc. has joined a consortium led by BMW AG that is developing a self-driving vehicle platform that can be used by multiple auto makers.

Magna joins BMW, high tech giant Intel Corp. and Intel's Mobileye division.

The consortium is working on a self-driving flexible vehicle platform that will be available by 2021 and can be adapted for use by other car companies in addition to BMW.

"Many of the autonomy challenges the industry is facing can't be handled in isolation," Magna's chief technology officer Swamy Kotagiri said in a statement Tuesday.

BMW is one of Magna's largest customers and the parts company has assembled vehicles for BMW on a contract basis in Austria for more than a decade.

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Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 26/04/24 4:00pm EDT.

SymbolName% changeLast
INTC-Q
Intel Corp
-9.2%31.88
MG-T
Magna International Inc
+0.92%67.15
MGA-N
Magna International
+0.86%49.12

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