DriveNow becomes wholly-owned subsidiary of BMW Group

Munich. With the acquisition of Sixt SE’s stake in
DriveNow, the BMW Group continues its systematic development as a
customer-centric mobility company. Today’s signing is subject to
approval by antitrust authorities. With this move, the world’s leading
provider of premium mobility is offering customers efficient,
sustainable mobility solutions from a single source. The rapidly
growing field of mobility services is one of the cornerstones of the
BMW Group’s corporate strategy NUMBER ONE > NEXT, as evidenced by
the BMW Group expanding its offering in the areas of on-demand
mobility (DriveNow and ReachNow), parking (ParkNow) and charging
(ChargeNow) in a sustainable way. The acquisition of the Sixt shares
is therefore the next logical step in this strategy, following the
acquisition of Parkmobile LLC in early January of this year, a move
which made the BMW Group the world’s leading provider of digital
parking solutions.

“We have achieved extraordinary success with DriveNow over the past
seven years – thanks to the efforts of the DriveNow employees and the
excellent cooperation with our joint venture partner, Sixt. Sixt will
remain a strong partner for us in the future,” said Peter
Schwarzenbauer, member of the Board of Management of BMW AG,
responsible for MINI, Rolls-Royce, BMW Motorrad, Customer Engagement
and Digital Business Innovation BMW Group. “Our aim is to win 100
million customers for our premium mobility services by 2025. With
DriveNow as a wholly-owned subsidiary, we have all options for
continued strategic development of our services in our hands. Our
experience with mobility services supports our development of future
autonomous, electrified and connected fleets,” Schwarzenbauer continued.

Independently of the acquisition of the Sixt stake in DriveNow, the
BMW Group and Sixt will continue their successful long-standing
partnership through delivery of BMW and MINI vehicles for the Sixt fleet.

“The joint development of DriveNow impressively demonstrates the
innovative strength of Sixt and the BMW Group. We would like to thank
the DriveNow employees and the BMW Group for this success and look
forward to continuing our strategic partnership with the BMW Group
through our contracts for delivery of BMW and MINI brand
vehicles”, said Alexander Sixt, member of the Managing Board of
Sixt SE, responsible for Group Strategy.

DriveNow was founded in 2011 as a premium car-sharing joint venture
between the BMW Group and Sixt SE. The service is already used by more
than one million customers in 13 European cities. The fleet comprises
more than 6,000 BMW and MINI brand premium vehicles across Europe. The
electric BMW i3 is also available to users at all DriveNow locations.

“In 2017 our customers drove over eight million kilometres with the
DriveNow electric fleet – that is equivalent to driving round the
globe more than 200 times on electric power. DriveNow not only reduces
traffic and improves the parking situation in urban areas, but it is
also supporting the breakthrough of electromobility,” said DriveNow
Managing Director Sebastian Hofelich. “We look forward to working with
our franchise and city partners to continue actively shaping urban
mobility in a sustainable manner,” he added.

The BMW Group seeks to improve quality of life in urban areas through
its mobility offering. The company works with various partners and
decision-makers in cities to help shape the sustainable mobility of
the future.

If you have any questions, please contact:

Corporate Communications

Christina Hepe, Business and Finance Communications, christina.hepe@bmwgroup.com

Telephone: +49 89 382-38770

Glenn Schmidt, Head of Business and Finance Communications, glenn.schmidt@bmwgroup.com

Telephone: +49 89 382-24544

Media website: www.press.bmwgroup.com

Email: presse@bmw.de

 

 
The BMW Group

 

With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW
Group is the world’s leading premium manufacturer of automobiles and
motorcycles and also provides premium financial and mobility services.
The BMW Group production network comprises 31 production and assembly
facilities in 14 countries; the company has a global sales network in
more than 140 countries.

In 2017, the BMW Group sold over 2,463,500 passenger vehicles and
more than 164,000 motorcycles worldwide. The profit before tax in the
financial year 2016 was approximately € 9.67 billion on revenues
amounting to € 94.16 billion. As of 31 December 2016, the BMW Group
had a workforce of 124,729 employees.

The success of the BMW Group has always been based on long-term
thinking and responsible action. The company has therefore established
ecological and social sustainability throughout the value chain,
comprehensive product responsibility and a clear commitment to
conserving resources as an integral part of its strategy.

www.bmwgroup.com

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