BMW and Daimler to Team Up on €1 Billion Ride-Sharing and Mobility Project

BMW and Mercedes-Benz parent Daimler announced a €1 billion ($1.14 billion) mobility partnership.

The news is an update of the plan announced in March 2018, taking on tech companies such as Uber.

The move on Friday updates the March announcement. Five previously separate ventures will be “meshed” together as the two German giants focus on changing how people move around.

“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 BMW Vorstandsvorsitzender Harald Kruger in a statement.

The companies plan to benefit from their existing customer base, they said.

“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,” said Kruger.

(Photo: Accura Media Group)