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Daimler and BMW expanded its investment in a joint venture between the two sides in car sharing, increasing its investment by more than 7.6 billion RMB.

2024-11-05 Update From: AutoBeta autobeta NAV: AutoBeta > News >

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Uber of the United States is the world's largest service provider in terms of shared travel and car-hailing services, and it is clear that automakers will not give up on this market and expand their car-sharing and ride-hailing businesses by merging their businesses to compete with emerging competitors such as Uber.

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Earlier, Daimler's Car2Go car sharing business merged with BMW DriveNow sharing services and formed a new joint venture in which the two carmakers each own a 50 per cent stake.

Recently, both Daimler and BMW said they had allocated more than 1 billion euros ($1.13 billion, about 7.6 billion yuan) to expand their travel services.

Both BMW's DriveNow and Daimler's Car2Go have great influence in Europe, and the introduction of autopilot technology could spur a massive expansion of taxi services. Daimler and BMW hope to build joint operations in car sharing, car rides, electric car charging and digital parking services to consolidate their strong influence in Europe.

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