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3D Systems (DDD) is zooming 24% higher after the company announced a new alliance with German giant Daimler Buses. Also in on the deal is Wibu-Systems, a Germany-based software licensing firm. 3D's Deal With Daimler Using a solution that combines 3D Systems' 3D printing technology and Daimler's expertise in developing auto parts using additive technology, Daimler's partners and customers can "print" spare parts. More specifically, the German firm's partners and customers "will be able to manufacture spare parts locally for various underhood and cabin interior applications, including pins, covers, and inserts."
A computer programmer typing code in front of a 3D printed object, emphasizing new ways of product development. Consequently, they can obtain these parts as much as 75% more quickly than previously, 3D Systems and Daimler asserted. The introduction of this solution will prevent mechanics from having to wait several weeks for parts, as sometimes occurs now, Daimler and 3D Systems reported. "With the implementation of Daimler Buses’ advanced solution, service providers can now collaborate with nearby service bureaus to quickly produce the necessary parts on demand, drastically reducing wait times and enhancing overall productivity," the companies stated. Bus/motorcoach companies and mechanics can join the initiative by purchasing a license from Daimler Buses. The Recent Price Action of DDD Stock In the last month, the shares have risen 11%, while they have jumped 32% in the last three months. While we acknowledge the potential of DDD, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than DDD but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ ALSO 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock Disclosure: None. This article is originally published at Insider Monkey