BMW

The company is set to announce an alliance to develop self-driving vehicles with collision detection specialist Mobileye and computer chip maker Intel.

While Tesla's Model 3 will hit showrooms in 2017, and as rivals Porsche and Audi are working on all-electric cars for release by 2019, the German carmaker appears to have put such cars on the back burner.

BMW's move is the latest in a flurry of investments by automakers in technology industry startups that appear to be aimed at convincing consumers to do without owning their own cars, or driving vehicles as often.

The car makers discuss a collaboration over car batteries and other parts.