German car giants BMW and Daimler have teamed up to invest €1 billion in new generation services such as driverless vehicles, ride-hailing, parking services, as well as pay-per-use car schemes.
The new joint venture has five strands – Reach Now: a smartphone-based route management and booking service; Charge Now: expanding electric car charging; Free Now: for taxi ride-hailing; Park Now: dedicated to offering parking services; and Share Now: for car-sharing.
Harald Krüger, chairman of BMW's management board, said: "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,"
The venture would be "a key cornerstone in our strategy as a mobility provider," he said, adding: "The co-operation is the perfect way for us to maximize our chances in a growing market, while sharing the investments."
Daimler’s CEO Dieter Zetsche added that further co-operation with other providers, including stakes in start-ups and established players, were also a possible option.
