Reviews Park Now: Daimler and BMW are considering selling the joint parking app

00:32  15 october  2020
00:32  15 october  2020 Source:   t3n.de

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Daimler AG and BMW AG are exploring a sale of their jointly owned parking - app business Park Now , according to people familiar with the matter, as the The Free Now ride-hailing service within the joint venture has attracted interest from Uber Technologies Inc., people familiar with the matter said last

PARK NOW is an international parking solutions provider. PARK NOW is part of YOUR NOW , the mobility joint venture of the BMW Group and Daimler AG . With digital parking solutions under the brands PARK NOW , Parkmobile, RingGo and Park -line, it currently serves over 33 million users in

Handy-Park-App Park Now offenbar vor dem Verkauf. © Park Now Park Now mobile parking app, apparently before the sale. According to

insiders, Daimler and BMW want to part with the joint parking app business Park Now. A possible sale could bring in a few hundred million euros.

The indications that Daimler and BMW are putting the jointly operated business with mobility services to the test are growing. At the end of September it became known that the German car companies, after searching in vain for investors, had received an takeover offer from Uber for the Free Now driving service. Now they should check informed circles after a sale of the parking app Park Now, as the Handelsblatt reports .

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BMW just bought parking app ParkMobile. The acquisition of ParkMobile is part of BMW 's efforts to diversify beyond simply making and selling cars. Why is BMW interested in a parking app ? The automaker claims as much as 30 percent of urban traffic is caused by people looking for parking spots.

Park Now probably worth a few hundred million

According to insiders, BMW and Daimler are said to have brought the Rothschild & Co. bank on board to work on a potential sale. The possible sale of Park Now could bring in hundreds of millions of euros, it is said. Nothing is known about possible interested parties. Daimler and BMW did not want to comment on the report.

Last year, the two German car manufacturers merged their mobility services in the joint venture Your Now . The joint venture with the services Free Now, Park Now, Share Now, Charge Now and Reach Now started with great expectations. The disillusionment now seems all the greater. At the weekend, the Daimler works council chairman Michael Brecht had spoken out against sticking to the mobility services , as these would only burn money.

parking app active in 1,000 cities worldwide

The Park Now app enables drivers to pay for parking on the roadside and in the parking garage using their smartphone. A parking space can also be reserved in advance. This should make the tedious search for a parking space and rummaging for change to pay for the parking ticket a thing of the past. According to Daimler and BMW, the app is active in over 1,000 cities worldwide.

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