trending Market Intelligence /marketintelligence/en/news-insights/trending/_k3ggri9hk8nbcmykanvoq2 content esgSubNav
In This List

BMW, Daimler to combine mobility services units

Blog

Industries Most and Least Impacted by COVID-19: A Market-Implied Probability of Default Perspective

Blog

Post-webinar Q&A: Global Credit Risk Trends 2021 and Beyond

Blog

Shore Capital is Now Available in S&P Global’s Aftermarket Research Collection

Video

S&P Capital IQ Pro | Powered by Advanced Visualization


BMW, Daimler to combine mobility services units

Rival automakers Bayerische Motoren Werke AG and Daimler AG clinched a deal to merge their mobility services business units as both companies seek to expand their existing on-demand mobility offerings, including car sharing and ride-hailing, and electric car charging.

Under the deal, which is subject to regulatory scrutiny and approval, each company will hold a 50% stake in a joint venture comprising both companies' mobility services in five areas, including on-demand mobility, car-sharing services Car2Go and DriveNow, ride-hailing, parking and charging.

"Working as partners, both companies are thereby addressing the challenges arising from urban mobility and changing customer wishes, and cooperating with cities, municipalities and other interest groups to improve quality of life in major cities," the companies said in a release.

The companies will remain rivals in their respective core businesses, according to the release.