BMW and Tencent to open computing center in China for self-driving cars

A BMW self-driving test vehicle at an event announcing the German automaker’s partnership with China’s Tencent Holdings in Beijing. (Reuters)
Updated 20 July 2019

BMW and Tencent to open computing center in China for self-driving cars

  • BMW’s planned Chinese computing center follows the opening earlier this year of a similar computing center in Munich

BEIJING: German automaker BMW and Chinese online gaming giant Tencent Holdings are teaming up to launch a computing center in China that will help develop self-driving cars in the world’s biggest auto market, the companies said on Friday.
The computing center, which will start operations by the end of the year, will provide cars with data-crunching capabilities to help them drive semi-autonomously and, eventually, autonomously.
The two companies did not disclose the investment in the center. Sources familiar with the deal said the center will be built in the eastern city of Tianjin.
The establishment of the center “will support BMW’s autonomous driving development and innovation in China,” Jochen Goller, head of BMW’s China operations, said in a statement.
“BMW can, therefore, develop autonomous driving solutions that fit better with the specific driving conditions in China.”

HIGHLIGHTS

• Center will give cars data crunching capabilities.

• Investment in facility not disclosed.

• To be located in Tianjin city.

BMW said the new computing center will leverage Tencent’s cloud computing and big data, and provide the automaker with infrastructure needed to develop the autonomous cars.
The Munich-headquartered automaker says it will likely introduce semi-autonomous, or L3 classification, cars in China in 2021 which would need massive computing power to analyze real-time flow of digital information on road and traffic conditions.
Driverless cars need sophisticated data-crunching capabilities as they rely on so-called artificial-intelligence, or neuro-network technology, to help them “learn” from experience and could eventually drive themselves without human intervention.
BMW’s planned Chinese computing center follows the opening earlier this year of a similar computing center in Munich.


Thailand finance minister: economy to recover next year with 4% growth

Updated 23 November 2020

Thailand finance minister: economy to recover next year with 4% growth

  • Economy had bottomed but recovery was not fast as the battered tourism sector hurt supply chains
  • Budget for the next fiscal year will still focus on boosting domestic activity

BANGKOK: Thailand’s economy is expected to grow 4 percent in 2021 after a slump this year and fiscal policy will support a tourism-reliant economy struggling from the impacts of the coronavirus pandemic, the finance minister said on Monday.
Southeast Asia’s second-largest economy shrank a less than expected 6.4 percent in the third quarter from a year earlier after falling 12.1 percent in the previous three months.
The economy had bottomed but recovery was not fast as the battered tourism sector, which accounts for about 12 percent of gross domestic product (GDP), has also hurt supply chains, Finance minister Arkhom Termpittayapaisith said.
“Without the COVID, our economy could have expanded 3 percent this year, he said. “As we expect a 6 percent contraction this year, there is the output gap of 9 percent,” he told a business forum.
“Next year, we expect 4 percent growth, which is still not 100 percent yet,” Arkhom said, adding it could take until 2022 to return to pre-pandemic levels.
There is still fiscal policy room to help growth from this year’s fiscal budget and some from rehabilitation spending, he said.
The budget for the next fiscal year will still focus on boosting domestic activity, Arkhom said, and the current public debt of 49 percent of GDP was manageable.
Of the government’s 1 trillion baht ($33 billion) borrowing plan, 400 billion would be for economic revival, of which about 120 billion-130 billion has been approved, Arkhom said.
He wants the Bank of Thailand to take more action short term on the baht, which continued to rise on Monday, despite central bank measures announced on Friday to rein in the currency strength.
“They have done that and they have their measures... which should be introduced gradually and more intensely,” Arkhom said.