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BMW, Daimler announce €1 billion for joint ventures
BMW, Daimler Announce €1 Billion For Joint Ventures

BMW, Daimler announce €1 billion for joint ventures

BMW and Daimler have confirmed planned mobility partnership and have announced €1 billion fund for 5 different joint ventures. The automakers will work on combining efforts to tackle competition from Uber, Electrify America, Maven, and Turo with appropriate common ventures. The joint ventures will retain the word “now” which until now was part of BMW branding.

The ventures include: Charge Now — electric vehicle charging active in 25 different countries; Free now — ride-hailing service that provides services from taxis, private chauffeurs and e-scooters, with a customer base of 21 million around the world; Park Now — parking service through which drivers can find, book and pay for on-street and garage parking; Reach NOw — multimodal mobility using various forms of transportation like taxis, ridesharing and bike rental; Share Now — P2P car sharing with 20,000 vehicles in 31 cities.

Both companies view the partnership as a cornerstone for their urban mobility strategy that will allow them to compete with their American counterparts.

Lyft debuts “most affordable ride” ahead of IPO

Lyft started offering a new carpooling service which is the “most affordable ride”. The service called Shared Saver will add a few extra wait minutes and the user would have to walk several blocks for an optimized pickup location. Drop-off location is also optimized, so might require some walking.

The service is similar to Uber’s Express Pool, the main differentiator being that Shared Saver doesn’t get affected by surge pricing. While it’s unclear exactly how much cheaper the Shared Saver ride is, users have reported around 25–30% discount.

Lyft has been encouraging people to take shared rides and its main goal for this year is for shared rides to account for 50% of its business.

Didi to enter Chile, Peru

China’s largest ride-hailing company Didi Chuxing is planning to enter Latin America’s fastest-growing markets in Chile, Peru, and Colombia to compete with Uber. The company has already moved its senior executives from China to Chile and Peru and has started hiring local talent as well as weekly advertising for driving operations.

Latin America is the fastest growing market for Uber and entry of Didi ahead of its IPO can spell trouble for the San Francisco-based company. The two companies are already in cut-throat competition in Mexico and Brazil.

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