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December 6, 2018

Daimler/BMW mobility JV delayed

Daimler said its planned joint mobility company with BMW would now be established at the beginning of next year rather than in what's left of 2018.

By Olly Wehring

Daimler said its planned joint mobility company with BMW would now be established at the beginning of next year rather than in what's left of 2018.

"Following the approval of the project by the EU Commission, the two partners are continuing talks with the US antitrust authorities. Completion of the transaction, which was originally planned for 2018 and continues to be pursued by both partners, can no longer be achieved in the remaining weeks of this year," Daimler said in a statement.

It added the expected "significant positive valuation and earnings effects" at Daimler Financial Services will be realised in 2019 and it had reduced the unit's earnings forecast for 2018. The division now expects EBIT to be "significantly lower than in the previous year".

The forecast for the Daimler Group's EBIT in the 2018 financial year remains unaffected and unchanged.

With their joint venture, Daimler and BMW plan to combine their mobility services in the fields of car sharing, ride hailing, parking, charging and multimodality.  

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