BMW and Daimler have launched a sustainable mobility joint venture including ride-hailing, parking and electric car charging services.
The firms will invest more than €1bn to develop their urban mobility businesses and the merger brings together car-sharing services Reach Now and Share Now, charging service Charge Now, ride-hailing service Free Now and parking app Park Now.
Each company will hold a 50 per cent stake in the new joint venture and will remain competitors in their core businesses.
“The BMW Group is shaping future mobility – and striking out in new directions to do so. Our Strategy provides the BMW Group with a roadmap to a digital and emission-free future,” said Harald Krüger, chairman of BMW AG.
“Combining our mobility services as planned will create a unique digital ecosystem.
“This alliance will make it easier for our customers to discover the emission-free mobility of the future.
“We remain competitors when it comes to the best premium vehicles. The planned merger of our mobility services will pool our resources and sends a strong signal to our new competitors.”
Daimler chairman Dieter Zetsche added: “As pioneers in automotive engineering, we will not leave the task of shaping future urban mobility to others.
“There will be more people than ever before without a car who will still want to be extremely mobile.
“We want to combine our expertise and experience to develop a unique, sustainable ecosystem for urban mobility.”