NEWS
Daimler, BMW team up to challenge Uber
German rivals unveil a joint ride-hailing, parking and EV charging deal
German carmakers Daimler and BMW have unveiled a joint ride-hailing, parking and electric vehicle (EV) charging business to compete with mobility services provided by Uber and other tech firms. The luxury car firms said they would invest more than €1bn (R15.7bn) to expand the joint venture, shifting beyond manufacturing and car sales towards pay-per-minute or pay-per-mile systems. Consultancy PwC has said carmakers face marginalisation by cash-rich technology firms unless they develop services based on vehicle usage. Established ride-hailing firms have been expanding. China's Didi Chuxing aims to build its business in Latin America and Uber is gaining a stranglehold on its US market. "Further co-operation with other providers, including stakes in startups and established players, are also a possible option," Daimler's CEO Dieter Zetsche said.
Daimler's Car2Go car-sharing brand will be combined with BMW's DriveNow, ParkNow and ChargeNow businesses, with both carmakers holding a...
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