Daimler & BMW to Invest € One Billion in Venture to Rival Uber

 

Daimler and BMW carmakers unveiled a joint ride-hailing, parking and electric car charging business to compete with mobility services provided by Uber. The venture has five strands: FREE NOW for taxi ride-hailing, SHARE NOW for car-sharing, CHARGE NOW for electric car charging, PARK NOW for parking services and REACH NOW, a smartphone-based route management.

The Germany luxury car firms said they would invest more than €1 billion to expand the joint venture around the world.

 

Both BMW and Mercedes have customer base of more than 60 million. They are planning to increase their global footprint, while Charge Now offers 100,000 charging points in 25 different countries. This will make their service the best car charging service in the world in addition to Park Now service that helps more than 30 million customers park their cars in Europe and North America.

While Free Now service has more than 21 million customers in Europe and Latin America with more than 250,000 drivers, it also has 20,000 cars in 31 cities around the world with 4 million customers.

 

Read more: 2020 Kia Telluride Officially Begins its Production

 

"These five services will merge ever more closely to form a single mobility service portfolio with an all-electric, self-driving fleet of vehicles that charge and park autonomously," BMW Chief Executive "Harald Krueger" said.

 

"Further cooperation with other providers, including stakes in startups and established players, are a possible option to create a strong new player in the transportation growing market by creating a smart network of joint ventures to build up the current and future market in addition to increasing needs for different transportations by customers." Daimler’s Chief Executive "Dieter Zetsche" said.

 

Further reading: Tesla & Mercedes Talking About Electric Van Collaboration

 

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