BMW Group said on Thursday that it had obtained a test license for Level 3 autonomous driving on high-speed roads in Shanghai. It has been one step closer to permitting driverless vehicles in the largest auto market worldwide.
The German luxury car maker said it would launch products equipped with L3 self-driving functionality, when it is allowed to do so according to Chinese laws and regulations.
This new license is to expand the areas for the auto maker, where it could conduct tests of advanced autonomous driving technologies in Shanghai.
The company had received a license in 2018, which enabled it to run tests on 5.6 kilometers of public roads in the city.
The shares of Bayerische Motoren Werke AG (BMWG) were last gaining 2.29% (EUR 2.350) to trade at EUR 104.890 in Frankfurt on Friday, as they extended the gain from the previous market session.
The luxury auto maker’s total market cap now stands at EUR 66.98 billion.
The shares of BMW AG went down 5.77% in 2022, compared with an 8.79% loss for the DAX Automobile (CXPAX) Index.
The company’s shares have risen 25.80% so far this year.
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