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 step. We 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.”
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.