Daimler and BMW partnered

According to Reuters, leading German carmakers Daimler (DAIGn.DE) and BMW (BMWG.DE) have partnered to expand their businesses in new services such as car-sharing and EV charging to compete with Uber in the United States and Didi Chuxing in China.

Included in the terms of their deal, (car-sharing units Car2Go and DriveNow, ride-hailing, parking and charging services) Daimler and BMW will each hold a 50 percent stake in a joint venture.

Both companies said their goal was to offer customers a system of intelligent, flawlessly connected mobility services that could quickly be expanded around globally.

‘As pioneers in automotive engineering, we will not leave the task of shaping future urban mobility to others,’ Daimler chief executive Dieter Zetsche said.

If regulators approve the transaction, both companies expect their key profit figures to rise slightly year-on-year, compared with previous guidance for flat profit.

The deal will have no impact on the operating profit margin of BMW’s core automotive segment, the companies said.