By Kim Richters

Chemical company BASF SE and engineering group Robert Bosch GmbH are setting up a joint venture to further develop digital technologies for the agricultural sector, the companies said Thursday.

"Thanks to connecting agricultural machinery using high-tech sensors, intelligent software and digital products, we can make tomorrow's agriculture more efficient and at the same time more environmentally friendly," said Bosch's Andrew Allen, who is responsible for the company's commercial vehicles and off-road business.

Both German companies will have a 50% stake in the joint business, which will be set up in the first quarter of next year and be based in Cologne. The companies didn't disclose financial details of the cooperation.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

November 12, 2020 06:11 ET (11:11 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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