Daimler, BMW to invest more than 1 billion euro in mobility services

FILE PHOTO: The Daimler is seen during a press conference on the second press day of the Paris auto show, in Paris, France, October 3, 2018. REUTERS/Regis Duvignau - Copyright REGIS DUVIGNAU(Reuters)

By Reuters

Published on 22/02/2019 - 11:34•Updated 24/04/2024 - 22:01

Comments

BERLIN (Reuters) - German carmakers Daimler and BMW deepened their cooperation on Friday by unveiling a combined ride-hailing, parking and electric car charging business to counter emerging rivals like Uber from the United States.

The luxury car manufacturers said they have earmarked more than 1 billion euros (867.90 million pounds) to expand their mobility services business as carmakers move beyond manufacturing and selling cars, towards a pay-per-minute system based on vehicle usage.

Daimler's Car2Go car-sharing business will be combined with BMW's DriveNow, ParkNow and ChargeNow businesses, with both carmakers holding 50 percent stake in the venture.

(Reporting by Irene Presinger; Writing by Edward Taylor; Editing by Ludwig Burger)

Comments