Published on March 31st, 2018 | by James Ayre0
Combined Daimler+BMW Mobility Services Division Aiming For Large Global Market Share
March 31st, 2018 by James Ayre
The plan is for the newly combined Daimler + BMW mobility services division to end up grabbing a large portion of the total global market share of the sector, the CFO at Daimler has been quoted as saying.
To be more specific, Daimler Chief Financial Officer Bodo Uebber was quoted as saying that both firms’ carsharing services (which will remain separate, as we reported previously, and simply benefit from managerial and operational synergies) were intended to grow quickly over the coming years.
Interestingly, further acquisitions are apparently in the works. Uebber stated: “We want to grow significantly and we are in a position to handle large acquisitions.”
Reuters provides a bit more information: “The two leading German luxury carmakers unveiled plans on Wednesday to combine their businesses in new services such as car-sharing and electric vehicle charging to compete with Uber in the United States and Didi Chuxing in China.
“They will each hold half of a new joint venture company, which Daimler’s Uebber said was likely to be headquartered in Germany. He said that Daimler and BMW’s financial strength could help the venture fund takeovers but said they were also open to adding new partners. The idea of listing the new company is currently not in focus, Uebber said, saying the main priority was for now to close the deal.”
It’s a development worth taking note of. Though, it’s unclear at this point if it will lead to any major changes to market share in various parts of the world.
For further background, see: Car2Go (Daimler) & DriveNow (BMW) Carsharing Services May Merge.