autonewseurope.com
Daimler first-quarter profit hurt by higher costs, drop in deliveries
Zetsche earlier flagged a weak first-quarter return on sales at the Mercedes-Benz Cars unit, squeezed by expenses for the GLE changeover and ramping up a joint Mexican factory with Nissan.
Daimler financial services saw a 718 million euros one-off gain thanks to a valuation gain following the merger of the mobility services divisions of Daimler and BMW.
Investors will look beyond first-quarter woes and focus on CEO-designate Ola Kallenius taking over in May, Bloomberg Intelligence analyst Michael Dean said in a report.
"We anticipate his new strategic plan will be unveiled this summer," Dean said.
Daimler first-quarter profit hurt by higher costs, drop in deliveries
Zetsche earlier flagged a weak first-quarter return on sales at the Mercedes-Benz Cars unit, squeezed by expenses for the GLE changeover and ramping up a joint Mexican factory with Nissan.
Daimler financial services saw a 718 million euros one-off gain thanks to a valuation gain following the merger of the mobility services divisions of Daimler and BMW.
Investors will look beyond first-quarter woes and focus on CEO-designate Ola Kallenius taking over in May, Bloomberg Intelligence analyst Michael Dean said in a report.
"We anticipate his new strategic plan will be unveiled this summer," Dean said.
I did not even know that this possibility was being handled, that would be very interesting, who knows later what can happen-
autonewseurope, May 07, 2019 06:38 AM UPDATED 11 HOURS AGO
BMW CEO rules out taking Daimler stake as part of deeper alliance
Edward Taylor
Reuters
Krueger made the comments as BMW and Daimler continue talks on how to deepen their cooperation.
FRANKFURT -- BMW CEO Harald Krueger said there are no plans for the automaker to take a stake in rival Daimler as the two companies continue talks on how to deepen cooperation in the area of autonomous vehicles.
BMW and Daimler are cooperating in the area of mobility services, joint procurement of components and development of autonomous vehicle technologies.
Upon being asked whether the multi-billion euros alliance between the two German automakers could include taking a small stake in Daimler, Krueger said, "I can rule that out."
autonewseurope, May 07, 2019 06:38 AM UPDATED 11 HOURS AGO
BMW CEO rules out taking Daimler stake as part of deeper alliance
Edward Taylor
Reuters
Krueger made the comments as BMW and Daimler continue talks on how to deepen their cooperation.
FRANKFURT -- BMW CEO Harald Krueger said there are no plans for the automaker to take a stake in rival Daimler as the two companies continue talks on how to deepen cooperation in the area of autonomous vehicles.
BMW and Daimler are cooperating in the area of mobility services, joint procurement of components and development of autonomous vehicle technologies.
Upon being asked whether the multi-billion euros alliance between the two German automakers could include taking a small stake in Daimler, Krueger said, "I can rule that out."
Mr. Mercedes
Premium
But what about Daimler taken a stake in BMW?
I'd love to see these two cooperate ever more closely.
I'd love to see these two cooperate ever more closely.
AUTOMOVILWOCHE
Tuesday, July 02, 2019, 1:45 pm
Taxi brokers from BMW and Daimler:
MyTaxi expands its services and is now called Free Now
New name, new offers: In the future, the taxi broker MyTaxi will also offer rental cars with drivers and e-scooters under the name Free Now.
The taxi operator MyTaxi will step in with anexpanded range of mobility services and under the new name "Free Now" against private transport services such as Uber. In the first step, Free Now offers in Germany from the end of July next to taxis and rental cars with driver as a new booking option, announcedAlexander Mönch , Germany boss of Free Now.
The new service will start in Hamburg, followed by Berlin and Frankfurt until the end of August.By the end of the year, the rental car fleet will be available in six German cities. The range of mobility also includes the e-scooter hive brand , which will be integrated into the app in the coming months. The scooters are already on the road in Portugal, Poland and Austria.
Mönch acknowledged that Free Now's activities are suspiciously eyed by the traditional taxi industry."Taxi drivers approach us in a highly emotional way, and then we explain what we need to do to prevent the cases from flooding us." Free Now will not turn its back on the taxis, but will stand up for modernization. "Taxi is in our DNA."
"Bring the best of both worlds together
With the taxi alone, however, the advance of Uber and other competitors can not be stopped, as more and more customers use private transport services, said Monk. He campaigned for a re-regulation of the industry. This includes the removal of the obligation to return to the home location for rental cars and more flexible taxi fares with lower and upper limits. "We have to bring together the best of both worlds."
The taxi app, through which passengers book their rides directly, was launched in 2009. It has been part of Free Now since February, the joint mobility service provider to the automakers BMW and Daimler (Car2Go, DriveNow) . The app got a new logo with the latest updates. But users would not have to re-download them or set them up again.
"Only possible through sharing"
Mönch emphasized that his company works closely with the cities and chambers of commerce and adheres to all legal requirements. "If we want to push back the motorized individual traffic in the cities, this is only possible through sharing." In Hamburg Free Now with the service "Match" already offers fixed price trips, if several passengers share a taxi in the same direction. In Berlin and Munich Airport, the "Match" service is currently available without a fixed price guarantee. (AFX / gem)
Tuesday, July 02, 2019, 1:45 pm
Taxi brokers from BMW and Daimler:
MyTaxi expands its services and is now called Free Now
New name, new offers: In the future, the taxi broker MyTaxi will also offer rental cars with drivers and e-scooters under the name Free Now.
The taxi operator MyTaxi will step in with anexpanded range of mobility services and under the new name "Free Now" against private transport services such as Uber. In the first step, Free Now offers in Germany from the end of July next to taxis and rental cars with driver as a new booking option, announcedAlexander Mönch , Germany boss of Free Now.
The new service will start in Hamburg, followed by Berlin and Frankfurt until the end of August.By the end of the year, the rental car fleet will be available in six German cities. The range of mobility also includes the e-scooter hive brand , which will be integrated into the app in the coming months. The scooters are already on the road in Portugal, Poland and Austria.
Mönch acknowledged that Free Now's activities are suspiciously eyed by the traditional taxi industry."Taxi drivers approach us in a highly emotional way, and then we explain what we need to do to prevent the cases from flooding us." Free Now will not turn its back on the taxis, but will stand up for modernization. "Taxi is in our DNA."
"Bring the best of both worlds together
With the taxi alone, however, the advance of Uber and other competitors can not be stopped, as more and more customers use private transport services, said Monk. He campaigned for a re-regulation of the industry. This includes the removal of the obligation to return to the home location for rental cars and more flexible taxi fares with lower and upper limits. "We have to bring together the best of both worlds."
The taxi app, through which passengers book their rides directly, was launched in 2009. It has been part of Free Now since February, the joint mobility service provider to the automakers BMW and Daimler (Car2Go, DriveNow) . The app got a new logo with the latest updates. But users would not have to re-download them or set them up again.
"Only possible through sharing"
Mönch emphasized that his company works closely with the cities and chambers of commerce and adheres to all legal requirements. "If we want to push back the motorized individual traffic in the cities, this is only possible through sharing." In Hamburg Free Now with the service "Match" already offers fixed price trips, if several passengers share a taxi in the same direction. In Berlin and Munich Airport, the "Match" service is currently available without a fixed price guarantee. (AFX / gem)
July 04, 2019 05:31 AM UPDATED 3 HOURS AGO
BMW, Daimler team up to develop self-driving technology
BMW and Daimler said they had finalized an agreement to jointly develop self-driving systems and they expected the Level 4 technology to be deployed in mass-market vehicles for private customers starting 2024.
BMW and Daimler are developing a scalable platform for automated driving that will be available to other companies to license.
BERLIN -- BMW and Daimler have entered into a long-term development partnership for automated driving involving 1,200 technicians from both companies.
The strategic partnership will focus on developing technologies for driver assistance systems, automated driving on highways and automated parking, BMW said in a statement on Thursday.
The two automakers first announced their plans to join forces on automated driving technology in February, saying they were discussing the possibility of extending their partnership.
BMW and Daimler on Thursday said they had finalized the agreement and that they expected the technology to be deployed in mass-market vehicles for private customers from 2024.
The technology will be so-called Level 4, or "mind off," where the car can operate with driver input.
"In addition, further talks are planned to extend the cooperation to higher levels of automation in urban areas and city centers," BMW said.
The non-exclusive cooperation is open to other automakers and technology partners, with results being made available to other OEMs under license, BMW said.
Efforts will focus on developing a scalable architecture for driver assistance systems, including sensors, as well as a joint data center for data storage, administration and processing, and the development of functions and software.
The technicians will be based at locations including the BMW's autonomous driving campus in Unterschleissheim, near Munich, as well as the Mercedes' technology center in Sindelfingen and Daimler's testing and technology center in Immendingen.
Mercedes parent Daimler and BMW already cooperate in some areas.
In 2015, the two automakers, together with Audi, bought Nokia's mapping company Here, and last year the two automakers merged their short-term rental services Car2Go and DriveNow in a bid to create more of a presence in the developing mobility market.
Facing headwinds from international trade conflicts and narrowing margins due to tougher emissions legislation, automakers are being driven to team up by the massive development costs of key technologies in which they face competition from internet giants such as Alphabet's Waymo.
Volkswagen and Ford are in the final stage of talks on a strategic alliance to jointly develop self-driving and electric cars. German bsiness newspaper Handelsblatt said the deal was set to be approved on July 11.
BMW, Daimler team up to develop self-driving technology
BMW and Daimler said they had finalized an agreement to jointly develop self-driving systems and they expected the Level 4 technology to be deployed in mass-market vehicles for private customers starting 2024.
BMW and Daimler are developing a scalable platform for automated driving that will be available to other companies to license.
BERLIN -- BMW and Daimler have entered into a long-term development partnership for automated driving involving 1,200 technicians from both companies.
The strategic partnership will focus on developing technologies for driver assistance systems, automated driving on highways and automated parking, BMW said in a statement on Thursday.
The two automakers first announced their plans to join forces on automated driving technology in February, saying they were discussing the possibility of extending their partnership.
BMW and Daimler on Thursday said they had finalized the agreement and that they expected the technology to be deployed in mass-market vehicles for private customers from 2024.
The technology will be so-called Level 4, or "mind off," where the car can operate with driver input.
"In addition, further talks are planned to extend the cooperation to higher levels of automation in urban areas and city centers," BMW said.
The non-exclusive cooperation is open to other automakers and technology partners, with results being made available to other OEMs under license, BMW said.
Efforts will focus on developing a scalable architecture for driver assistance systems, including sensors, as well as a joint data center for data storage, administration and processing, and the development of functions and software.
The technicians will be based at locations including the BMW's autonomous driving campus in Unterschleissheim, near Munich, as well as the Mercedes' technology center in Sindelfingen and Daimler's testing and technology center in Immendingen.
Mercedes parent Daimler and BMW already cooperate in some areas.
In 2015, the two automakers, together with Audi, bought Nokia's mapping company Here, and last year the two automakers merged their short-term rental services Car2Go and DriveNow in a bid to create more of a presence in the developing mobility market.
Facing headwinds from international trade conflicts and narrowing margins due to tougher emissions legislation, automakers are being driven to team up by the massive development costs of key technologies in which they face competition from internet giants such as Alphabet's Waymo.
Volkswagen and Ford are in the final stage of talks on a strategic alliance to jointly develop self-driving and electric cars. German bsiness newspaper Handelsblatt said the deal was set to be approved on July 11.
Mr. Mercedes
Premium
Good news IMO. Why double up R&D on what will become very standardised systems.
If next year they reach the projected (double the revenue that in 2019) will already be in the middle of Uber's income, which is a great achievement in my opinion, this business will substantially increase the value of Daimler and BMW Group
BMW, Daimler ride-hailing venture steps up Uber challenge
FRANKFURT -- FreeNow, the ride-hailing venture owned by Daimler and BMW, expects to double revenue this year and next in a fresh challenge to Uber in Europe and Latin America.
FreeNow's so-called gross merchandise volume, which mirrors revenue, is forecast to reach about 2.4 billion euros ($2.7 billion) in 2019, CEO Marc Berg said in an interview.
"We know it is aggressive and really ambitious, but we want to double our revenue again next year while further improving our profitability," Berg said.
Half of the 130 cities in Europe and Latin America where the company that was previously named MyTaxi currently operates in are already profitable, he said.
Mobility providers face intensifying pressure to show they can generate profit, as indicated by the lackluster stock performance of Uber and U.S. peer Lyft since their initial public offerings.
Varying transport regulations across regions can complicate efforts to scale up, and authorities worldwide have increased scrutiny of background checks for drivers to address safety concerns.
Still, Uber's market value of $48.6 billion underscores investors anticipate technology firms will play a key role in shaping future transportation.
Uber's adjusted revenue is estimated to rise 15 percent to $12.9 billion this year, according to Bloomberg data.
europe.autonews.com/automakers/bmw-daimler-ride-hailing-venture-steps-uber-challenge
In order to increase the value even more, this is also a great financial business
Your Now: BMW and Mercedes reorganize joint venture
The mobility offers from BMW and Daimler, which have been bundled in the Your Now joint venture since the beginning of the year, will be reorganized for 2020. To do that ...
The mobility offers from BMW and Daimler, which have been bundled in the Your Now joint venture since the beginning of the year, will be reorganized for 2020. In order to bring the joint venture into a profitable area more quickly, the offers are now to be bundled in three instead of five pillars. Since February 2019, the number of registered customers has increased by 44 percent to almost 90 million.
ReachNow does not apply to the five pillars at the start of the joint venture; the services of ParkNow and ChargeNow are combined in one pillar. FreeNow continues to focus on taxi services and is on the road to success: in 2019, the number of journeys increased by 120 percent compared to the previous year to almost 300 million. FreeNow will use ReachNow's know-how even more in the future and should offer customers an even better experience when looking for the best mode of transport.
At ShareNow everything is still about car sharing, here the services of DriveNow and car2go come together. ShareNow has won around a million customers since the beginning of the year, also because Paris and Budapest have added two large cities. With ParkNow and ChargeNow, the Free Now joint venture also offers services for finding parking spaces and charging options.
Rainer Feurer (Head of Investments at the BMW Group): “As shareholders, we are firmly convinced that by bundling the three pillars, we will make the joint ventures more effective and focused in a competitive and fast-growing environment. Both shareholders are behind YOUR NOW's business model and are determined to further develop the joint ventures into a leading player in the mobility market. ”
Franz Reiner (CEO of Daimler Mobility AG): “The course has been set to make YOUR NOW joint ventures sustainable and profitable. At the same time, partnerships are becoming increasingly important in order to be successful in the market. We are open to further growth here. ”
Your Now: BMW und Mercedes stellen Joint-Venture neu auf
BMW, Daimler ride-hailing venture steps up Uber challenge
FRANKFURT -- FreeNow, the ride-hailing venture owned by Daimler and BMW, expects to double revenue this year and next in a fresh challenge to Uber in Europe and Latin America.
FreeNow's so-called gross merchandise volume, which mirrors revenue, is forecast to reach about 2.4 billion euros ($2.7 billion) in 2019, CEO Marc Berg said in an interview.
"We know it is aggressive and really ambitious, but we want to double our revenue again next year while further improving our profitability," Berg said.
Half of the 130 cities in Europe and Latin America where the company that was previously named MyTaxi currently operates in are already profitable, he said.
Mobility providers face intensifying pressure to show they can generate profit, as indicated by the lackluster stock performance of Uber and U.S. peer Lyft since their initial public offerings.
Varying transport regulations across regions can complicate efforts to scale up, and authorities worldwide have increased scrutiny of background checks for drivers to address safety concerns.
Still, Uber's market value of $48.6 billion underscores investors anticipate technology firms will play a key role in shaping future transportation.
Uber's adjusted revenue is estimated to rise 15 percent to $12.9 billion this year, according to Bloomberg data.
europe.autonews.com/automakers/bmw-daimler-ride-hailing-venture-steps-uber-challenge
In order to increase the value even more, this is also a great financial business
Your Now: BMW and Mercedes reorganize joint venture
The mobility offers from BMW and Daimler, which have been bundled in the Your Now joint venture since the beginning of the year, will be reorganized for 2020. To do that ...
The mobility offers from BMW and Daimler, which have been bundled in the Your Now joint venture since the beginning of the year, will be reorganized for 2020. In order to bring the joint venture into a profitable area more quickly, the offers are now to be bundled in three instead of five pillars. Since February 2019, the number of registered customers has increased by 44 percent to almost 90 million.
ReachNow does not apply to the five pillars at the start of the joint venture; the services of ParkNow and ChargeNow are combined in one pillar. FreeNow continues to focus on taxi services and is on the road to success: in 2019, the number of journeys increased by 120 percent compared to the previous year to almost 300 million. FreeNow will use ReachNow's know-how even more in the future and should offer customers an even better experience when looking for the best mode of transport.
At ShareNow everything is still about car sharing, here the services of DriveNow and car2go come together. ShareNow has won around a million customers since the beginning of the year, also because Paris and Budapest have added two large cities. With ParkNow and ChargeNow, the Free Now joint venture also offers services for finding parking spaces and charging options.
Rainer Feurer (Head of Investments at the BMW Group): “As shareholders, we are firmly convinced that by bundling the three pillars, we will make the joint ventures more effective and focused in a competitive and fast-growing environment. Both shareholders are behind YOUR NOW's business model and are determined to further develop the joint ventures into a leading player in the mobility market. ”
Franz Reiner (CEO of Daimler Mobility AG): “The course has been set to make YOUR NOW joint ventures sustainable and profitable. At the same time, partnerships are becoming increasingly important in order to be successful in the market. We are open to further growth here. ”
Your Now: BMW und Mercedes stellen Joint-Venture neu auf
On the one hand they announce that they will double the income next year and on the other hand they withdraw from this huge market, not restructuring or second chance, it is rare but this is the business, I think it only matters to generate value and profits and then they will see if they return
Wolfgang
Kraftwagen König
BMW And Daimler Subsidiary Purchases 60 Tesla Model 3 Sedans
Free Now adds 60 Model 3 vehicles as part of its ride-hailing fleet expansion.
BMW and Daimler have merged together on multiple future mobility efforts. One such joint effort is ride-hailing outfit Free Now, which used to be known as MyTaxi. As the automakers move forward with expansion into more German cities, they've decided to add 60 Tesla vehicles to the Free Now fleet. A report by Electrive points out that these will all be Model 3 sedans.
The information was first reported by German news publication, Handelsblatt. It stated:
"The mobility provider Free Now, a subsidiary of BMW and Daimler, wants to continue its expansion into other cities in Germany. So the electric car fleet is to be expanded, initially with 60 Tesla vehicles in Hamburg, said Free Now in the Hanseatic city. Last year, 20 percent more passengers in Germany were using Free Now than in the previous year; the number of drivers has increased by 27 percent to more than 28,000."
Free Now is currently based in areas of Europe and Latin America. It's a service that allows people to rent electric scooters or hail taxis. The company plans to begin using the new Model 3 vehicles in Hamburg at the end of March or the beginning of the second quarter.
Free Now currently operates its traditional taxi service in 25 German cities, but only offers the ride-hailing service in six cities. Due to the popularity and impressive growth of the ride-hailing service in those locations, expansion is a necessity.
Source: Handelsblatt via Electrek/Teslarati
Wolfgang
Kraftwagen König
^ In Berlin Berlkönig uses eVito Tourers and may be interested to add EQVs once they become available later this year. 
The fleet of the BVG ridesharing BerlKönig, which started in September 2018, is to be completely converted to electric vehicles by the end of 2020. Of the 185 vehicles currently in use, more than half are already powered by electricity.
The currently used e-transporters are Mercedes eVito and Mercedes B 250 e, the remaining diesel vehicles are Mercedes V 250d. In the short term, the fleet should be completely converted to the eVito, later the use of the Mercedes EQV is also conceivable. The use of the fleet is officially a test operation for a research project that is scheduled for late summer 2022.
In addition, BerlKönig will be made available in the entire Berlin city area in the future. Discussions with the Senate are still ongoing. According to BVG spokesman Johannes Schwentuchowski, the limited area of application is the biggest shortcoming from the customer's point of view. "We would like to expand the offer to other parts of the city in a timely manner," said the spokesman. "It is therefore our goal that the Berlkönig becomes a regular BVG offer."
According to the Berliner Morgenpost, the Senate is not yet completely convinced of the offer. "But according to the Senate Department for the Environment and Transport, the Berlkönig still does not contribute to avoiding traffic," the newspaper writes. The proportion of passengers who actually do without their own car would have to increase - and so would the number of passengers per trip.
In addition, BerlKönig now lists some usage figures. Since the start in September 2018, 1.4 million passengers have been transported, with 84 percent of the trips involving multiple passengers in a shared taxi. This is not only due to bookings for several passengers at a time. According to the BVG, algorithms are used to book passengers with a similar direction of travel together in 59 percent of the cases.
BerlKönig is operated jointly by the BVG and ViaVan. ViaVan in turn belongs to Daimler and the US provider Via.
The fleet of the BVG ridesharing BerlKönig, which started in September 2018, is to be completely converted to electric vehicles by the end of 2020. Of the 185 vehicles currently in use, more than half are already powered by electricity.
The currently used e-transporters are Mercedes eVito and Mercedes B 250 e, the remaining diesel vehicles are Mercedes V 250d. In the short term, the fleet should be completely converted to the eVito, later the use of the Mercedes EQV is also conceivable. The use of the fleet is officially a test operation for a research project that is scheduled for late summer 2022.
In addition, BerlKönig will be made available in the entire Berlin city area in the future. Discussions with the Senate are still ongoing. According to BVG spokesman Johannes Schwentuchowski, the limited area of application is the biggest shortcoming from the customer's point of view. "We would like to expand the offer to other parts of the city in a timely manner," said the spokesman. "It is therefore our goal that the Berlkönig becomes a regular BVG offer."
According to the Berliner Morgenpost, the Senate is not yet completely convinced of the offer. "But according to the Senate Department for the Environment and Transport, the Berlkönig still does not contribute to avoiding traffic," the newspaper writes. The proportion of passengers who actually do without their own car would have to increase - and so would the number of passengers per trip.
In addition, BerlKönig now lists some usage figures. Since the start in September 2018, 1.4 million passengers have been transported, with 84 percent of the trips involving multiple passengers in a shared taxi. This is not only due to bookings for several passengers at a time. According to the BVG, algorithms are used to book passengers with a similar direction of travel together in 59 percent of the cases.
BerlKönig is operated jointly by the BVG and ViaVan. ViaVan in turn belongs to Daimler and the US provider Via.
Wolfgang
Kraftwagen König
Autonews has an update.
UBER weighs purchase of BMW-Daimler ride-hailing venture FREE NOW
Uber Technologies Inc. is considering a purchase of Daimler and BMW's ride-hailing joint venture Free Now, a deal that could boost its market share in Europe and Latin America, people with knowledge of the matter said.
Uber expressed interest in a potential acquisition of Free Now after the venture’s efforts to attract additional investors struggled to gain traction amid the coronavirus pandemic, according to the people, who asked not to be identified because the information is private. Any deal could be complicated by the challenging market faced by ride-hailing companies, which could make it more difficult to agree on a price, one of the people said.
There’s no certainty the deliberations will lead to a transaction, and other bidders could emerge, the people said. Representatives for Uber and BMW declined to comment, and a Daimler spokeswoman said the company doesn’t comment on speculation.
Daimler and BMW merged their mobility operations last year and folded them into a joint venture called Your Now, which comprises five business including the Free Now ride-hailing service. Free Now used to operate as MyTaxi and has integrated ride-hailing apps including France’s Kapten, Greece’s Beat and Romania’s Clever Taxi.
Daimler valued the equity investment in its half of the Your Now venture at 618 million euros ($720 million) at the end of June. The venture’s activities also include much smaller operations dubbed Park Now and the car-sharing platform Share Now.
Daimler and BMW’s shopping of Free Now reflects their focus on generating cash and improving efficiency within their core automotive operations. Automakers also have been scaling back their mobility-service ambitions, with General Motors shutting down its Maven car-sharing business earlier this year and Ford Motor Co. ceasing its Chariot shuttle service in 2019.
Making money with mobility services has proven a challenge for tech firms and automakers alike. Transport regulations vary significantly across regions and were making it difficult to scale up operations before the COVID-19 pandemic hit the sector hard.
Before COVID-19, Free Now’s so-called gross merchandise volume, which is similar to revenue, was forecast to reach 8 billion euros ($9.3 billion) in 2022 from about 2.5 billion euros last year, according to one person. Those growth projections were upended by the pandemic, and Free Now cut jobs in April.
Uber operates app-based services including ride-hailing, food and cargo deliveries in more than 10,000 cities across roughly 70 countries. The San Francisco-based company generated $14.1 billion in revenue last year.
www.autonews.com
UBER weighs purchase of BMW-Daimler ride-hailing venture FREE NOW
Uber Technologies Inc. is considering a purchase of Daimler and BMW's ride-hailing joint venture Free Now, a deal that could boost its market share in Europe and Latin America, people with knowledge of the matter said.
Uber expressed interest in a potential acquisition of Free Now after the venture’s efforts to attract additional investors struggled to gain traction amid the coronavirus pandemic, according to the people, who asked not to be identified because the information is private. Any deal could be complicated by the challenging market faced by ride-hailing companies, which could make it more difficult to agree on a price, one of the people said.
There’s no certainty the deliberations will lead to a transaction, and other bidders could emerge, the people said. Representatives for Uber and BMW declined to comment, and a Daimler spokeswoman said the company doesn’t comment on speculation.
Daimler and BMW merged their mobility operations last year and folded them into a joint venture called Your Now, which comprises five business including the Free Now ride-hailing service. Free Now used to operate as MyTaxi and has integrated ride-hailing apps including France’s Kapten, Greece’s Beat and Romania’s Clever Taxi.
Daimler valued the equity investment in its half of the Your Now venture at 618 million euros ($720 million) at the end of June. The venture’s activities also include much smaller operations dubbed Park Now and the car-sharing platform Share Now.
Daimler and BMW’s shopping of Free Now reflects their focus on generating cash and improving efficiency within their core automotive operations. Automakers also have been scaling back their mobility-service ambitions, with General Motors shutting down its Maven car-sharing business earlier this year and Ford Motor Co. ceasing its Chariot shuttle service in 2019.
Making money with mobility services has proven a challenge for tech firms and automakers alike. Transport regulations vary significantly across regions and were making it difficult to scale up operations before the COVID-19 pandemic hit the sector hard.
Before COVID-19, Free Now’s so-called gross merchandise volume, which is similar to revenue, was forecast to reach 8 billion euros ($9.3 billion) in 2022 from about 2.5 billion euros last year, according to one person. Those growth projections were upended by the pandemic, and Free Now cut jobs in April.
Uber operates app-based services including ride-hailing, food and cargo deliveries in more than 10,000 cities across roughly 70 countries. The San Francisco-based company generated $14.1 billion in revenue last year.
Uber weighs purchase of BMW-Daimler ride-hailing venture, report says
Uber expressed interest in a potential acquisition of Free Now after the venture’s efforts to attract additional investors struggled to gain traction amid the coronavirus pandemic, Bloomberg reported.
www.autonews.com
Wolfgang
Kraftwagen König
A BIT OF DOLCE VITA IN GERMANY
SHARE NOW EXPANDS ITS FLEET PORTFOLIO
Our mobility joint venture SHARE NOW is expanding its fleet portfolio. In addition to models from Mercedes-Benz, smart, MINI and BMW, customers now also have access to Fiat 500. SHARE NOW thus offers customers a wider choice and thus increases the attractiveness of the vehicle fleet.
The four-seater is available for rent as of today via the SHARE NOW app and can be booked at a minute rate starting at 0.19 Euros. So far, the vehicle offer contains models by the brands BMW, Mercedes-Benz, MINI, and smart. With the Fiat 500, the car-sharing fleet now consists of 22 different vehicle models. Until the end of the year, 650 vehicles will be flown in at four German locations - this corresponds to around 11 percent of the total fleet in Germany.
The 1.4 million SHARE NOW customers in Germany now have a larger selection of small cars waiting to be used for trips and short rides within the city.
SHARE NOW is gradually taking up the Fiat 500 monthly. After Berlin and Cologne with 20 and 45 cars respectively, Frankfurt and Munich follow with 30 and 80 cars respectively.
sharenow-erweitert-fahrzeugflotte-mit-fiat-500
How things change from one year to the next, from being the great JV to this.
BMW CEO says he is weighing options for mobility JV with Daimler
www.autonews.com
BMW CEO says he is weighing options for mobility JV with Daimler
BMW CEO says he is weighing options for mobility JV with Daimler
BMW wants to continue to participate in the mobility services market "whether we bring in new partners or whether we sell it," CEO Oliver Zipse told reporters.
www.autonews.com
Report: BMW and Daimler pondering selling Park Now to rivals EasyPark
So everything they considered was the future of mobility and related businesses (sales will drop, people will share cars, etc.), and others like this one from park now do not seem to have taken off, even the alliance with daimler, the investment of 1 BN, they bought a headquarters in Munich, it is incredible that everything was aligned for that in 2018/19 as "the future" and today they are getting rid of those businesses as if they were hot irons
www.bmwblog.com
So everything they considered was the future of mobility and related businesses (sales will drop, people will share cars, etc.), and others like this one from park now do not seem to have taken off, even the alliance with daimler, the investment of 1 BN, they bought a headquarters in Munich, it is incredible that everything was aligned for that in 2018/19 as "the future" and today they are getting rid of those businesses as if they were hot irons
Report: BMW and Daimler pondering selling Park Now to rivals EasyPark
BMW and Daimler are apparently interested in selling Park Now, their parking solution for busy cities to rival EasyPark
EnI
Piston Pioneer
Nope. The project has several independent pillars, running as start-ups. They give them a chance to see which one is able to survive the challenges of the market. Some won't some will. Som will be sold to the competitors, some will die off, some will thrive one and acquire or merge with competitor in the future. Who knows. But it's obvious ... as I've said many time before ... the IT giants are just too strong, and the only true rivals to the legacy carmakers when it comes to the future of mobility. Hardware is not the problem. It won't be for anyone. Nor will be the firmware running the hardware. But the services will be. As well as the software (incl. firmware & OS) running the services. The collaboration with it giants (Google, Apple, Amazon, Uber etc) will be crucial & necessary. Even for Daimler & BMW ... no matter how eagerly they resist. The German Trio is unable to compete with the IT giants. The Germany isn't in general. The Europe isn't in general. Unfortunately. Too old-fashioned. Still not ready for full digitalization. Maybe the future of Europe & Germany lies in ... quantum, lol. Who knows ... lol.
