Daimler and Geely to Form Premium Ride-Hailing Joint Venture in China

Daimler and Geely to Form Premium Ride-Hailing Joint Venture in China 1

Daimler Mobility Services GmbH and Geely Group Company, Zhejiang Geely Holding Group’s new business subsidiary, has announced to build a joint venture (JV) in China to provide premium ride-hailing services.

Daimler and Geely to Form Premium Ride-Hailing Joint Venture in China 3

Daimler in a statement has described the alliance as:

“The joint venture will provide ride-hailing mobility services in several Chinese cities using premium vehicles including but not limited to Mercedes-Benz vehicles.”

The 50-50 JV will be headquartered in Hangzhou, Zhejiang Province, and will work on providing ride-hailing services in Chinese cities using premium cars. At the initial stage, the fleet will include the Mercedes-Benz S-Class, E-Class and V-Class and Maybach vehicles and could later deploy premium electric vehicles from the Geely Group such as the Borui GE.

Daimler and Geely to Form Premium Ride-Hailing Joint Venture in China 5
Geely Borui

Zhejiang Geely Holding Group has already launched its mobility service platform dubbed Caocao Zhuanche that currently has deployed over 29,000 all-electric vehicles in 28 cities across China with over 360,000 trips completed per day. Besides, the Chinese ride-hailing service platform has by far attracted more than 170 million registered users with over 1 million regular active users on the app on a daily basis.

Automakers are scrambling fast to establish themselves in new technologies, as car-sharing and autonomous driving threaten to upend the traditional model of vehicle ownership.

Related: Geely Founder Li Shufu Acquires 9.69% of Daimler AG Becoming Largest Single Shareholder

Earlier this year, Li Shufu, the chairman and owner of China Zhejiang Geely Holding Group, acquired a 9.69% stake in Daimler, becoming the single largest shareholder of Daimler AG. Since then the two companies are working on collaboration in different key areas.

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About UsmanAnsari

A 3d animation professional, car enthusiast, petrolhead and social media influencer. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com

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