Mexican Media Brands
Daimler, Geely Launch Mobility Services Venture in China
Daimler AG and Zhejiang Geely Holding Group have formed a new company to sell mobility services in China.
Share
Daimler AG and Zhejiang Geely Holding Group have formed a new company to sell mobility services in China.
Based in Hangzhou, the unnamed venture has been capitalized at 1.7 billion yuan ($246 million). The company is equally owned by the mobility subsidiaries—Geely Technology Group and Daimler Mobility services—of the two carmakers, Automotive News China reports.
Initially, the partnership will offer mobility services in high-end Mercedes-Benz models in select cities. Eventually the venture will expand its offerings to Geely’s premium electric vehicles.
Last October, the Daimler and Geely formed a 50:50 joint venture to launch their own ride-hailing service in China. The business will compete against market leader DiDi Chuxing.
The new mobility services collaboration between the two companies reflects their interest in broadening their relationship after Geely acquired a 9.7% stake in Daimler. The Chinese company is now Daimler’s largest shareholder.
RELATED CONTENT
-
Choosing the Right Fasteners for Automotive
PennEngineering makes hundreds of different fasteners for the automotive industry with standard and custom products as well as automated assembly solutions. Discover how they’re used and how to select the right one. (Sponsored Content)
-
GM Develops a New Electrical Platform
GM engineers create a better electrical architecture that can handle the ever-increasing needs of vehicle systems
-
TRW Multi-Axis Acceleration Sensors Developed
Admittedly, this appears to be nothing more than a plastic molded part with an inserted bolt-shaped metal component.
