(GERMANY)

Two giants of the motor industry are teaming up to create a new ‘global player’ in sustainable urban mobility. BMW Group and Daimler AG are investing a total of €1 billion as part of a new partnership ‘to develop and more closely intermesh their offerings for car-sharing, ride-hailing, parking, charging and multimodal transport’.

“We are creating a leading global game changer. The 60 million customers we already have today will benefit from a seamlessly integrated, sustainable ecosystem of car-sharing, ride-hailing, parking, charging and multimodal transport services. We have a clear vision: 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, Management Board Chairman of BMW AG, in a press statement released today. “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.”