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.
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
"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.
() and Volkswagen ( 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. )