Tag: BMW

Uber Looks to Buy Ride-Hailing Business From BMW and Daimler

Fresh off its license win in London, Uber Technologies (NYSE:UBER) is looking to further expand its presence in Europe by buying the Your Now ride-hailing joint venture of BMW (OTC:BAMXF) and Daimler (OTC:DMLR.Y), according to a report on Monday by Bloomberg.

The automakers have been trying to find investors in the business so they can focus more fully on their core car operations, but the coronavirus pandemic has thwarted their efforts thus far. Daimler valued the ridesharing business at $720 million in June, Bloomberg said.

Uber driver with passengers

Image source: Uber Technologies.

An acquisition of Your Now would allow Uber to penetrate deeper into Europe at a time when it is shedding minority stakes in businesses in various countries, including Asian ridesharing app Grab, and the similar business of Russian tech conglomerate Yandex, though it will still own a 19% stake in Yandex when the business is spun off. Japan’s SoftBank Group

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The LAPD’s fleet of barely used BMW i3s is being sold for cheap

  • Cars from the LAPD’s fleet of barely used BMW i3s are being sold at New Century BMW in Alhambra, California. 
  • The cars all have pretty low miles and are all priced between $15,000 and $18,000, a dealership rep told Business Insider.
  • The dealership sold its first shipment of 28 cars in just four days, but a new shipment is coming this month.
  • Visit Business Insider’s homepage for more stories.

In 2016, BMW won the bid to supply the Los Angeles Police Department with hundreds of all-electric BMW i3s for use in its transportation fleet. The LAPD hardly used them, their leases expired, and now the cars are being sold for dirt cheap.

Several i3s from the LAPD’s fleet were for sale at New Century BMW as Certified Pre-Owned models, as first noticed by The Current Review, an enthusiast EV blog, and then Jalopnik. A screenshot of New Century BMW’s inventory,

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