Daimler and Geely announce ride-hailing JV in China

Daimler and Geely announce ride-hailing JV in China

Daimler Mobility Services and Geely Group Company have signed an agreement to form a premium ride-hailing joint venture in China. The 50-50 JV will be based in Hangzhou, and the premium ride-hailing service will utilise Mercedes-Benz vehicles like the S-Class, E-Class, V-Class and Maybach models, with the possibility of premium electric vehicles from Geely being added to the mix.

“Daimler is ideally positioned to continue its transformation by expanding into a comprehensive mobility services company as we pave the way to autonomous driving. With Geely Group, we have found an excellent partner to expand our mobility services in China. The joint venture will play a significant role as we continue to enlarge our portfolio and global presence and solidify our strong position in the mobility market,” said Klaus Entenmann, CEO of Daimler Financial Services AG.

“We are delighted to have defined terms for a premium ride-hailing joint venture with Daimler Mobility Services. The development of such services, in which both companies already have a presence, forms part of our transformation from a vehicle manufacturer into a global automotive technology group,” added An Conghui, president of Geely Holding.

Details about the financial terms and the investment plans of the joint venture have not been disclosed at this stage, and its implementation is subject to approval from the merger control authorities.

With the deal, both companies are likely looking to take on Didi Chuxing, the company that acquired Uber’s Chinese business a few years ago, and currently has a strong grip on the ride-hailing industry in the country.

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Gerard Lye

Originating from the corporate world with a background in finance and economics, Gerard’s strong love for cars led him to take the plunge into the automotive media industry. It was only then did he realise that there are more things to a car than just horsepower count.

 

Comments

  • Geely, Daimler, Mesidis, P1, VolvoCar, VolvoTrucks, Lotus > all

    Like or Dislike: Thumb up 16 Thumb down 6
    • why must you left out Maybach and Smart brand?

      Like or Dislike: Thumb up 1 Thumb down 0
      • Mr Suka Syukur Selalu on Oct 26, 2018 at 11:32 am

        Syukur.. Daimler dgn Proton bleh JV sini

        Like or Dislike: Thumb up 6 Thumb down 0
      • Maybach and Smart is subbrand under Daimler. Not standalone like Geely, Daimler, Mesidis, P1, VolvoCar, VolvoTrucks, Lotus.

        Like or Dislike: Thumb up 3 Thumb down 0
        • Your explanation equates P1 also sub-brand of Geely…

          Like or Dislike: Thumb up 1 Thumb down 1
          • No. Brands under Geely are separate entities with their own identities, hence john was quite accurate to consider them as separate companies.

            Like or Dislike: Thumb up 3 Thumb down 0
          • Correcto. Geely has maintained that each brand belongs to Geely but will have separate identity, direction, and management. So its not same same like Maybach, Smart, AMG, Brabus which still identifies with Mesidis parent.

            Like or Dislike: Thumb up 2 Thumb down 0
      • Sallehuddin on Oct 26, 2018 at 2:13 pm

        Typical mentality. Daimler and Geely do all the work and Proton fanboy claim the glamour. In the X70, Geely did 98% of all the work but we claim glamour as if we made the car

        Like or Dislike: Thumb up 3 Thumb down 6
        • Read lah! Geely and Daimler is collaborating, where got either is doing all the work. Proton basher got no more modal is it?

          Like or Dislike: Thumb up 6 Thumb down 1
      • Boddoh>all on Oct 26, 2018 at 3:14 pm

        Bro, what is meaning of > all. Like seeing the same thing every time.

        Like or Dislike: Thumb up 3 Thumb down 0
        • Means Geely et al will conquer the automotive world. So dread it. Run from it. Destiny still arrives.

          Like or Dislike: Thumb up 3 Thumb down 2
  • So quick the partnership has bore fruits. Jerman have a lot to learn from China.

    Like or Dislike: Thumb up 8 Thumb down 6
    • Sallehuddin on Oct 26, 2018 at 2:15 pm

      And we have to learn everything from China. As if we never even had a car industry

      Like or Dislike: Thumb up 5 Thumb down 3
  • Ruslan Bahari on Oct 26, 2018 at 11:52 am

    This just shows the power that Geely Chairman and owner has over the industry; he has personal shares in the company and he can cut a deal to involve the company as well.

    Geely may be a small player by the standards of long-established car players, but it is merely a function of time. And with Li driving the group, that “time” element is shorter rather than longer.

    Their entry into PROTON marks their foray into ASEAN, and in a matter of maybe five years, as a group they will be someone to reckon with in this region.

    Like or Dislike: Thumb up 3 Thumb down 0
    • Ha jer mie on Oct 26, 2018 at 1:39 pm

      Geely and M’sia to reckon again in this region.

      Like or Dislike: Thumb up 7 Thumb down 0
    • John Minum Teh 8X on Oct 26, 2018 at 2:50 pm

      Geely is so powerful even Proton kowtow to them. Shows that Proton bosses got no bola.

      Geely paid RM170 million to get local car status, Lotus Car company and Proton’s RM5 bil land in Shah Alam

      Untung betul

      Like or Dislike: Thumb up 0 Thumb down 3
      • So? Even your top leader go to China begging for investment, but came back empty handed because he upsetted them during his vile campaigning.

        Like or Dislike: Thumb up 7 Thumb down 1
  • tokmoh. on Oct 26, 2018 at 11:55 am

    All Geely 2018 model comes with 4G LTE connection.

    Now Geely also working with Qualcomm to develop 5G New Radio for future models.

    Majulah Geely! Choose Geely for pero3 technology partner!

    Like or Dislike: Thumb up 9 Thumb down 2
    • Nicky on Oct 26, 2018 at 3:16 pm

      Well done Geely. Your suv now kill all volvo xc series. How to sell if standard is same but just mark up the price to put the brand volvo

      Like or Dislike: Thumb up 4 Thumb down 1
    • No Cancer and Freak Storm for Future Generations. on Oct 26, 2018 at 3:19 pm

      High risk of getting migraines and blurry vision if exposed directly to 5G radiation.

      Like or Dislike: Thumb up 0 Thumb down 0
  • seancorr (Member) on Oct 26, 2018 at 3:01 pm

    Awesome this is the Uber/Grab for the rich in China……wait a minute the rich have their own chauffeurs!

    Like or Dislike: Thumb up 1 Thumb down 0
    • Dherbz on Oct 26, 2018 at 3:40 pm

      Hail a V-Class whole family balik kampong. Get a Maybach to MLM Malam Aspresiasi, normal day ride a kapcai.

      Like or Dislike: Thumb up 5 Thumb down 0
    • This is like Uber X, rideshare servis but using Mesidis cars. U want Uber? U want travel in style? This is it!

      Like or Dislike: Thumb up 2 Thumb down 0
  • Geely being Daimler biggest shareholder, the have the power to dictate Daimler.

    Like or Dislike: Thumb up 3 Thumb down 0
    • Some have doubted it but from the speed of these developments including GKUI/MBUX, you were quite spot on with that assessment. Haters will hate, but the truth will eventually show itself. Bravo!

      Like or Dislike: Thumb up 1 Thumb down 0
 

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