Daimler and BMW join forces in car-sharing and electric-vehicle charging
Frankfurt — German car makers Daimler and BMW have joined forces to expand their businesses in new services such as car-sharing and electric-vehicle (EV) charging, raising their full-year guidance to reflect the deal. Mercedes-owner Daimler and BMW, Germany’s two biggest luxury car makers, are preparing for a new era in mobility services where self-driving cars could allow them to expand into a business segment currently dominated by Uber in the US and Didi Chuxing in China. Under the terms of the deal, which includes car-sharing units Car2Go and DriveNow, as well as ride-hailing, parking and charging services, Daimler and BMW will each hold a 50% stake in a joint venture. Assuming that regulators approve the transaction, both companies expect their key profit figures — earnings before interest and tax (EBIT) for Daimler and pre-tax profit for BMW — to rise slightly year on year, compared with previous guidance for flat profit. Reuters
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