The BMW Group and Daimler AG are joining forces to offer customers a single source for sustainable urban mobility services. The two companies today signed an agreement to merge their mobility services business units. Subject to examination and approval by the responsible competition authorities, the BMW Group and Daimler AG plan to combine and strategically expand their existing on-demand mobility offering in the areas of CarSharing, Ride-Hailing, Parking, Charging and Multimodality. Each company will hold a 50-percent stake in a joint-venture model comprising both companies’ mobility services. The two companies will remain competitors in their respective core businesses.

The aim of this transaction is to become a leading provider of innovative mobility services. Both automotive manufacturers aim to shape the mobility of the future to be able to offer their customers unique experiences and support their partners, such as cities and communes, in achieving sustainable urban mobility.

The partners intend to offer their customers a holistic ecosystem of intelligent, seamlessly connected mobility services, available at the tap of a finger. Together, the BMW Group and Daimler AG plan to grow this new business model sustainably and enable rapid global scaling of services. Working as partners, both companies are thereby addressing the challenges arising from urban mobility and changing customer wishes, and cooperating with cities, municipalities and other interest groups to improve quality of life in major cities. The merger will promote electromobility, for example, by offering electrified CarSharing vehicles, as well as easy access to charging and parking options. As a result, it will become even easier to experience and use sustainable mobility services.

The formation of the joint venture will produce a significant valuation and earnings effect at Daimler Financial Services. If the approval of the competition authorities is received this year, following adjustments will be made to the group outlook for Daimler AG: The company expects EBIT for Daimler Financial Services to be significantly higher than the previous year; for the Group as a whole, this means EBIT is likely to be slightly higher than the previous year.

The joint project is subject to examination and approval by the respective competition authorities. The best-possible customer experience is already the focus of both partners’ services. Therefore, initially nothing will change for the millions of customers, with existing services still being provided to the same extent and with the same level of quality.

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