BMW, Daimler Join Forces And Invest $1 Billion In Uber Rival

BMW and Daimler have announced the details of their five new joint ventures, set to provide ride-hailing (Free Now), car-sharing (Share Now), EV charging (Charge Now), parking (Park Now) and multimodal (Reach Now) services to customers.

The two German manufacturers will invest over a billion euros ($1.13 billion) in total for the development and close interaction of their mobility services worldwide.

With a combined customer base of over 60 million to date, BMW and Daimler are aiming to grow their global footprint; Charge Now already has more than 100,000 charging points in 25 countries, making it the biggest EV charging provider in the world, while Park Now serves more than 30 million customers across Europe and North America.

Free Now is serving more than 21 million customers in Europe and Latin America, with 250,000 drivers in its roster. Share Now currently features a fleet of 20,000 vehicles in 31 cities around the world, with more than 4 million customers.

“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, Chairman of BMW Group.

“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 of Daimler. “By creating an intelligent network of joint ventures, we will be able to shape current and future urban mobility and draw maximum benefit from the opportunities opened up by digitalization, shared services and the increasing mobility needs of our customers.”