29 Mar 2018

BMW and Daimler agree to combine car-sharing businesses

Cars

Reuters / Daimler / BMW

German carmakers BMW and Daimler have signed an agreement to merge their mobility services business units to compete with Uber in the United States and Didi Chuxing in China, writes news agency Reuters. “As pioneers in automotive engineering, we will not leave the task of shaping future urban mobility to others,” Daimler Chief Executive Dieter Zetsche said in a press release. Under the terms of their deal, which includes car-sharing units Car2Go and DriveNow as well as ride-hailing, parking and charging services, Daimler and BMW will each hold a 50 percent stake in a joint venture. Over the past weeks, the companies had paved the way for the merger by buying out their partners in Car2Go and DriveNow.

Read the Reuters article here and find the press release in English here.

See the CLEW dossier German carmakers and the Energiewende for background.

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