Daimler's Lampe (left) and Plug and Play co-founder Rahim Amidi symbolically exchange gifts to celebrate their partnershipÂ (Photo: Daimler)
DaimlerÂ is teaming upÂ with technology investor Plug and Play in China to jointly identify and help Chinese startup companies.
The German premium car makerÂ said the tie-up with Plug and Play, a California-based business accelerator that specializes in helping tech startups grow, will let itÂ tap into a new generation of innovation.
“With Plug and Play, we will connect more closely with the fast-developing startup world,” Daimler’s Greater China CIO, Marc Lampe, said in a press release.
Automakers and automotive suppliersÂ have in recent years become more interested in technology startups because these are often better capable of developing innovations quickly.
Earlier this week, ZF Friedrichshafen founded a venture capital unit that can help fundÂ startups and other businesses that are developing technologies of interest to the large southern-German automotive supplier.
In 2015, Daimler opened a Beijing innovation lab that has since then served as an in-house incubator. The carmaker said the cooperation with Plug and Play will help it to "further embrace the digitalization tide."
As part of the new cooperation, Daimler willÂ take up space in Plug and Play's Beijing office to more actively engage with startup companies hosted there.
Daimler and Plug and Play earlier this year joined forces to establish the so-called Startup Autobahn, a startup ecosystem in Stuttgart.
The global Plug and Play Tech Center has over 20 locations in Silicon Valley, Germany, Spain, Singapore, China and Brazil. The organization's global network currentlyÂ supports more than 300 tech startups. It works with more than 180 investors and a community of leading universities and corporate partners.