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Technology Stocks : Alibaba Group Holding Limited
BABA 172.83-1.9%10:40 AM EDT

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From: Julius Wong10/26/2020 7:07:13 AM
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BMW and Alibaba join hands to promote digital transformation across businesses
Oct. 26, 2020 6:15 AM ET|About: Alibaba Group Holding L... (BABA)|By: Niloofer Shaikh, SA News Editor

BMW ( OTCPK:BMWYY) and Alibaba (NYSE: BABA) signed a Memorandum of Understanding for strategic partnership in Beijing to leverage their own resources and carry out comprehensive cooperation in branding, marketing, channels, end-to-end operations, services, information technology, etc., aiming to implement the digitalization strategy into BMW’s full business process and enable dealers to provide an end-to-end and online-to-offline digital experience for customers.

BMW and Alibaba will jointly launch the first online sales and services businesses engaging dealers among premium auto brands, to create a seamless end-to-end online-to-offline digital experience.

In the future, online traffic will be directed to BMW dealers to create more business opportunities for them.

With the assistance of Alibaba’s membership system, BMW and MINI will launch brands’ membership services and marketing campaigns on Alibaba’s various online platforms to enhance customer loyalty, increase their level of activity, and drive business growth.

Jochen Goller, President and CEO of BMW Group Region China, said, “Cross industry collaboration and open innovation exchange are indispensable in accelerating the ongoing digital transformation of our company. As one of China’s leading tech enterprises, Alibaba has unique competencies in terms of digital technologies, large scale customer platforms and channels as well as targeted consumers operations. We are delighted to join hands to create holistic online-to-offline digital brand experiences for our Chinese consumers, and at the same time increase our portfolio of digital products and services.”
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