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BMW and Daimler cooperate on equestrian sports



The competing German automakers announced the investment on Friday in Berlin, describing the mobility business as a "global gambler", which can help avert start-up challenges, including Uber.

"Our mobility services have developed a strong customer base and we are now taking the next strategic step," Daimler ( DDAIF ) chief Dieter Zetsche said in a statement.

Venturen is an example of how established car manufacturers create partnerships to share the cost of developing technologies, including autonomous drive systems and electric vehicle platforms.

"Further collaboration with other providers, including startup stakes and established players, is also a possible option," said Zetsche, who also monitors Daimler's Mercedes-Benz brand.

The companies first announced their intention to join in March 201

8, but the plan required the approval of the regulator.

BMW BMWYY ) and Daimler focus on five areas: car sharing, riding, parking, charging and multimodal transport, which allows travelers to use multiple transport methods on a single platform. .
  Daimler boss Dieter Zetsche meets BMW's leader Harald Krüger in Berlin.

"These five services will merge even more closely to form a mobility portfolio," said BMW chief Harald Krüger. "The partnership is the perfect way for us to maximize our chances in a growing market while sharing our investments."

Other global car manufacturers have also mated.

Ford

( F ) and Volkswagen ( VLKAF ) announced a plan in January to build cars together. The companies also agreed to "examine" how they can work together to develop next-generation vehicles.

The trend towards collaboration has accelerated as automakers more under increased pressure from technology companies, including Uber and Google (] GOOGL ) parent alphabet. Tesla ( TSLA ) and new combinations, such as joint effort of General Motors GM GM ) SoftBank [19659003] ( SFTBF ) and Honda ( HMC ) could also shake up the industry's future.

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