Daimler, BMW may sell parking-app business 'Park Now' to rival EasyPark: Sources

  • A sale of Park Now would be one more step from the German luxury-carmakers to focus on their core automotive operations.
File photo of BMW logo
File photo of BMW logo

Daimler AG and BMW AG are in talks to sell their jointly owned parking-app business Park Now to European rival EasyPark Group, according to people familiar with the matter.

The companies could announce an agreement as soon as the next few weeks, said the people, who asked not to be identified because discussions are private. There’s no certainty the talks will lead to a transaction with Stockholm-based EasyPark, and the carmakers could still opt to revive negotiations with other suitors, the people said.

Also check these Vehicles

Find more Cars
Bmw X4 (HT Auto photo)
Engine Icon2998 cc FuelType IconPetrol
₹ 96.20 Lakhs
Compare
Bmw M3 (HT Auto photo)
UPCOMING
Engine Icon2998 cc FuelType IconPetrol
₹ 65 Lakhs
Alert Me When Launched
Bmw X5 (HT Auto photo)
Engine Icon2998 cc FuelType IconMultiple
₹93.90 Lakhs - 1.07 Cr
Compare
View Offers
Bmw Ix (HT Auto photo)
BatteryCapacity Icon111.5 kWh Range Icon635 km
₹ 1.21 - 1.40 Cr
Compare
View Offers
Bmw Xm (HT Auto photo)
Engine Icon4395.0 cc FuelType IconMultiple
₹ 2.60 Cr
Compare
View Offers
Bmw I7 (HT Auto photo)
BatteryCapacity Icon101.7kWh Range Icon625 km
₹ 1.95 - 2.50 Cr
Compare
View Offers

Representatives for BMW, Daimler and EasyPark declined to comment.

Also Read : BMW to use world's first solar-made aluminum

A sale of Park Now would be one more step from the German luxury-carmakers to focus on their core automotive operations. Daimler earlier this week announced plans to split up into the world’s largest makers of luxury cars and commercial vehicles, renaming itself Mercedes-Benz and separately listing its truck unit by year-end.

Park Now allows drivers to use a mobile app to pay for parking on the street and in lots. European tech company EasyPark provides digital services for parking in more than 2,200 cities across 20 countries, according to its website, and has been expanding through acquisitions.

First Published Date: 07 Feb 2021, 09:30 AM IST
NEXT ARTICLE BEGINS

Check Latest Offers

Please provide your details to get Personalized Offers

Choose city
+91 | Choose city
Choose city

Want to get the best price for your existing car?

Powered by: Spinny Logo
By clicking "View Offers" you Agree to our Terms and Privacy Policy
Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.