Daimler-BMW joint mobility venture aims to be international player: Daimler CFO

Daimler and BMW’s new joint mobility services division aims to become an international player through both organic growth and acquisitions, Daimler Chief Financial Officer Bodo Uebber stated.

“We want to expand significantly and we are in a position to manage large acquisitions,” Uebber stated.

The two leading German luxury automakers revealed strategies on Wednesday to combine their businesses in new services such as car-sharing and electric vehicle charging to rival with Uber in the United States and Didi Chuxing in China.

They will each hold 50 percent of a new joint venture company, which Daimler’s Uebber stated was possibly to be headquartered in Germany.

He stated that Daimler and BMW’s financial strength could assist the venture fund takeovers but added they were also open to adding new partners.

The idea of listing the new company is presently not in focus, Uebber stated, saying the main priority was at the moment to close the deal.