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Sept. 14, 2017
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Social network giant Facebook Inc. (XETRA: FB2A) is planning to build up closer ties to the automobile industry and increase cooperation with huge German car manufacturers Daimler AG (XETRA: DAI) and Volkswagen AG (XETRA: VOW3), Bloomberg reports.

Facebook COO Sheryl Sandberg said at the opening ceremony of the IAA car show in Frankfurt that there were ample opportunities for cooperation specifically in the fields of artificial intelligence, digitization and industry.

“We come with very good news — we’re the only company in Silicon Valley that’s not building a car. We have a lot to learn from you. We don’t have your history, we don’t have your staying power, even though we aspire to make it to 100 years,” Sandberg said, referring to Facebook as “teenager”.

Facebook is joining the Munich-based Mobility Hub, an innovation initiative supported by the likes of Daimler, BMW (XETRA: BMW) and SAP SE (NYSE: SAP).

The social network will sponsor desks, events and training with some of its engineers.

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