BMW CEO says he is weighing options for mobility JV with Daimler

By: Reuters
Updated on: 12 Nov 2020, 12:42 PM

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The future of Free Now, the BMW-Daimler venture that includes car sharing, ride hailing and other services, has been uncertain.

Parent of BMW’s joint venture partner in China, Brilliance Auto failed to repay its three-year 149-million dollar bond on time. (REUTERS)

BMW AG Chief Executive Oliver Zipse said Wednesday he is weighing options for the company's mobility services joint venture with Daimler AG, including bringing in new partners or possibly a partial sale.

BMW wants to continue to participate in the mobility services market "whether we bring in new partners or whether we sell it," Zipse told a videoconference of reporters.

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"This is a very dynamic environment," he said. "You will see where we make one or the other move."

The future of Free Now, the BMW-Daimler venture that includes car sharing, ride hailing and other services, has been uncertain. Last month, Germany's Manager Magazin reported Uber Technologies Ltd had offered 1 billion euros for the venture.

First Published Date: 12 Nov 2020, 12:42 PM IST

TAGS: BMW Daimler