Daimler buys majority stake in French car-ride app | Smart Highways Magazine: Industry News

Daimler buys majority stake in French car-ride app

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Daimler has agreed to buy a majority stake in Chauffeur Prive, a French rival to Uber, in what is being seen as the latest example of traditional companies looking to deal with challenges from technology-driven start-ups.

Reuters says the deal was announced in a joint statement by both companies. The price of the acquisition, which will be carried out by the German company’s Daimler Mobility Services division, was not disclosed.Chauffeur Prive was founded in 2011. The company says it has more than 1.5 million customers and access to 18,000 drivers, and the service is relatively popular in Paris.

Reuters adds that traditional automakers from around the world are examining how best to work on new, disruptive technologies – from electric vehicles to autonomous driving – that require hefty investment and have turned companies such as Google and Tesla into rivals.

Last year Porsche bought the world’s leading transport modelling firm PTV in another sign that carmakers are concentrating more on how their vehicles are used after they leave the showroom.

 
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