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Functional Mock-up Interface (FMI) is a tool independent standard to support both model exchange and co-simulation of dynamic models using a combination of xml-files and compiled C-code (see overview in PDF or PPT format). The first version, FMI 1.0, was published in 2010, followed by FMI 2.0 in July 2014. The FMI development was initiated by Daimler AG with the goal to improve the exchange of simulation models between suppliers and OEMs