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BMW to launch ride hailing services in China from December :: Kenya

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The BMW logo at the Auto China 2016 auto show in Beijing, China. [Photo: Reuters]

BEIJING- Germany’s BMW plans to launch ride-hailing services in China in December, the first global automaker to obtain such a license in the fast-growing market.

BMW Mobility Service Ltd, a fully-owned subsidiary of the BMW Group, obtained its ride-hailing license in Chengdu, the capital of Sichuan province in China’s southwest, BMW said.

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BMW Group said in October it would increase its stake in its Chinese joint venture with partner Brilliance China Automotive Holdings Ltd to 75 percent from 50 percent.

China’s ride-hailing market is worth $23 billion, more than all other ride-hailing markets combined, with China’s Didi Chuxing dominating with 90 percent of all bookings, consulting firm Bain & Co said.

Germany’s Daimler said in October it was setting up a ride-hailing venture in China with Geely Group, in a sign the Chinese firm was making progress in its drive for closer relations with the maker of Mercedes-Benz cars.

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