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BMW-Daimler's car-sharing JV to exit North America

Share Now, the car-sharing business formed through a mobility services joint venture by German carmakers Daimler AG and Bayerische Motoren Werke AG, said Dec. 18 that it will exit North America and end operations in London, Brussels and Florence, effective Feb. 29, 2020.

The business attributed the move to the volatility of the global mobility landscape and rising infrastructure complexities surrounding transportation in North America. It said these problems include the competitive mobility sector, the lack of infrastructure to support new technology and rising operating costs.

In addition, the company said it will no longer be able to continue operating in London, Brussels and Florence due to low adoption rates.

The development comes several months after Daimler and BMW announced plans to invest more than €1 billion in the joint venture, which is aimed at combining their offerings in ride-hailing, car-sharing and other areas.

Share Now will continue to operate in 18 European cities, including Amsterdam, Berlin, Budapest, Copenhagen, Dusseldorf/Cologne, Frankfurt, Hamburg, Helsinki, Lisbon, Madrid, Milan, Montreal, Munich, Paris, Rome, Stuttgart, Turin and Vienna.