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BMW & Daimler team up to merge their autonomous car units

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CIOL Writers
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BMW and Daimler to team up

Automotive giants BMW and Daimler have entered into an agreement to merge their ride-hailing and car-sharing units. The new partnership will try to fend off competition from ride-hailing giant Uber.

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As per the agreement, the joint venture which will be owned 50-50 percent by both the companies, will include five verticals- car-sharing, ride-hailing, parking, electric vehicle charging, and what they describe as “multimodal,” a term meant to cover the on-demand ordering and payment component of the business.

BMW CEO Harald Kruger, said, "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 CEO Dieter Zetsche said, "We want to combine our expertise and experience to develop a unique, sustainable ecosystem for urban mobility."

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The merger, which will bring all of the two company’s mobility service businesses under one roof, is still subject to approval by antitrust regulators. If approved, it will create a potentially powerful force in the transport realm as competition continues to intensify around the world.

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