Thursday 22 November
Powered by Ajaxy
Jan 30, 2018 @ 14:47

BMW takes full control of car-sharing platform DriveNow to keep in step wth Mercedes’ Car2go


German high-end carmaker BMW said Monday it had bought partner Sixt’s share in car-sharing platform DriveNow, stoking speculation a merger with a competing service from Daimler may lie ahead.

The Munich-based group will pay Sixt some 209 million euros ($259 million) for its 50-percent stake in DriveNow.

Regulators are expected to approve or reject the deal by June.

“With DriveNow as a wholly-owned subsidiary, we have all options for continued strategic development of our services,” BMW board member Peter Schwarzenbauer said in a statement.

Sixt’s stake in the service had long been seen as the main hurdle to merging it with Mercedes-Benz maker Daimler’s rival Car2Go platform.

Launched in 2011, DriveNow offers a fleet of around 6,000 BMW and Mini vehicles in 13 European cities, with more than one million customers on its books.

Meanwhile, Car2Go’s 14,000-strong fleet — mostly made up of Daimler’s ultra-compact Smart cars — serves 2.6 million users in 25 cities spread across three continents.

(Agence France-Presse)

Please follow and like us:

Tags: , , , , , , , , , ,

Related Stories
A former executive at German engineering giant Siemens pleaded guilty on Thursday to conspiring to
German auto giant BMW said Friday it plans to build an electric version of its
German high-end carmaker BMW said Friday it booked record sales for the seventh year in
EU anti-trust regulators have raided the offices of automaker BMW in Munich, the company said,


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.