BMW Group, Daimler Mobility AG pave way for profitable growth

Following the successful launch of the YOUR NOW joint ventures in February 2019, the companies are maintaining their dynamic growth course: Almost 90 million people currently use the joint ventures’ mobility services for car-sharing, ride-hailing, parking, charging and multi-modal platforms, which are offered in over 1,300 cities worldwide.

The shareholders are now setting course for the joint ventures’ next phase of expansion, which will be focussed on profitable growth. The services offered by the joint ventures will continue to be tailored to customer needs and clustered into three pillars – FREE NOW. SHARE NOW. PARK NOW & CHARGE NOW. The introduction of a new umbrella organisation, effective on January 1, 2020, will support efficient management of the three pillars.

Senior Vice President Investment of BMW Group Rainer Feurer said, “As a shareholder, we firmly believe that combining the services into three pillars will strengthen the joint ventures’ impact and focus in a highly competitive, fast-growing environment. Both shareholders are backing the YOUR NOW business model and are determined to develop the joint ventures into a leading player in the mobility market.”

“We are setting the course for the YOUR NOW joint ventures to achieve sustainable profitability. At the same time, partnerships are increasingly important to success in the marketplace and, in this respect, we are open to further stepping up growth,” said CEO of Daimler Mobility AG Franz Reiner.

FREE NOW (formerly mytaxi), one of Europe’s leading mobility providers, which includes the taxi and ride-hailing services FREE NOW, Beat, Kapten and electric scooter service Hive, is heading for record earnings for 2019. The annual GMV run rate (gross merchandise volume; platform revenues) will reach more than EUR2 billion – increasing the previous year’s figure significantly.

In 2019, the volume of tours (ie number of trips) was up 120 per cent from 2018. FREE NOW will have completed almost 300 million trips in 18 European and Latin American countries by the end of this year.

More than 39 million passengers took advantage of the services provided by more than 800,000 affiliated drivers. FREE NOW is also firmly on track for growth in 2020: Additional mobility services, such as e-scooters, electric bikes, car-sharing and public transport will also be integrated into the app, alongside its core ride-hailing business.

FREE NOW, one of Europe’s leading mobility providers, offers ride-hailing, e-scooters, electric bikes, car-sharing and public transport services. PHOTO: BMW

REACH NOW services are currently used by more than seven million people in 20 cities worldwide. In the south of Germany, on-demand ride-sharing options have been expanded in conjunction with the Karlsruhe Transport Authority (KVV) in Ettlingen and the public transport company Stuttgarter Straßenbahnen AG (SSB) in Stuttgart.

The free-floating car-sharing provider SHARE NOW, which has emerged from the two services car2go and DriveNow, has registered about one million new customers since the start of the year.

With the addition of Paris in January and Budapest in April, SHARE NOW expanded its European footprint in 2019 to include two major capitals. In the future, the focus will be on cities that promise long-term profitable growth. A review is currently underway to determine where reorganisation may be needed.

CHARGE NOW is Europe’s leading aggregator of charging infrastructure and therefore a key driver for higher market penetration of electric mobility.

CHARGE NOW’s charging services already provide access to 85 per cent of the European charging network in 30 European markets. It comprises more than 130,000 charge points and contracts with around 400 charge point operators. In Germany alone, CHARGE NOW achieves 98 per cent market coverage.

PARK NOW lets customers use an app to search and pay for on- and off-road parking spaces.

In 2019, PARK NOW further expanded its leadership in digital parking solutions: 36 million customers in 10 European Union countries and the United States use the services of the PARK NOW Group.

PARK NOW reached 230 million transactions with its core brand, plus Parkmobile, RingGo and Parkline, in 2019.

PARK NOW is proving itself as a partner for modern municipalities and has been recognised with the European Parking Award for emission-based parking solutions in the UK.