BMW and Daimler make public details of their mooted joint mobility venture. The two companies are investing more than €1 billion to develop and integrate offerings for car-sharing, ride-hailing, parking, charging and multimodal transport.

  
Five new brands were unveiled at a launch attended by chairmen of both companies. Reach Now for multimodal services, Charge Now for charging, Free Now for taxi ride-hailing, Park Now for parking and Share Now for car-sharing
 
Share Now replaces the two car sharing apps, Daimler Car2Go and BMW DriveNow, that the companies merged in 2018 as a precursor to this wider deal. 
 
“Our mobility services have developed a strong customer base and we are now taking the next strategic stepWe are pooling the strength and expertise of 14 successful brands and investing more than €1 billion to establish a new player in the fast-growing market for urban mobility,” said Dieter Zetsche, chairman Daimler AG and head of Mercedes-Benz Cars.
 
“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 and interconnect with the other modes of transport,” said Harald Krüger, chairman BMW AG.
 
“This service portfolio will be a key cornerstone in our strategy as a mobility provider. The cooperation is the perfect way for us to maximize our chances in a growing market, while sharing the investments.”
 
Berlin will be the base for the new organization’s headquarters. The city is already home to digital hubs for Daimler and VolkswagenThe next few years will see up to 1,000 new jobs created worldwide, according to a press statement.
 
While the announcement came as no great surprise, the depth of services demonstrates how seriously both incumbents take the threat from mobility start-ups, and established players like Uber and Waymo.