Recently, Geely Group (New Business) Co., Ltd., managed by Daimler Travel Service Co., Ltd. and Zhejiang Geely Holding Group, announced that the two parties will establish a joint venture company in China to provide high-end private car travel services. The joint venture company headquarters will be located in Hangzhou. The two parties hold a 50:50 shareholding ratio and plan to provide high-end private car services in some cities in China. The use of high-end models will include but not limited to the Mercedes-Benz brand. The initial models include the Mercedes-Benz S-Class. E-Class, V-Class luxury utility vehicle and Mercedes-Maybach sedan will also use Geely Group's high-end pure electric vehicles in the future. At present, the joint venture's business terms and investment plans have not been disclosed, the establishment of the joint venture company and Operations must be approved by the M&A regulator.
Klaus Entenmann, CEO of Daimler Financial Services AG, said: 'In our ongoing efforts to achieve autonomous driving, the Daimler Group is well prepared to continue to expand. Travel services continue to promote the company's transformation. Geely Group is our outstanding partner in China seeking to expand travel services. The joint venture will continue to enrich Daimler's travel services, expand its global business and strengthen its position in the travel market. To the important role. '
Mr. An Conghui, President of Zhejiang Geely Holding Group Co., Ltd. said: 'We are very pleased to have a framework agreement for the establishment of a high-end car travel joint venture with Daimler Travel Service. Both companies have launched business layout in the field of mobile travel services. Strong alliance will be our key move from automobile manufacturers to global automotive technology group.'
The signing ceremony of the memorandum of understanding was held at the headquarters of Daimler in Stuttgart, Germany. Mr. An Conghui, President of Zhejiang Geely Holding Group Co., Ltd., Mr. Liu Jinliang, President of Geely Group (New Business) Co., Ltd. managed by Zhejiang Geely Holding Group, Daimler Financial Services Mr. Entengman, CEO of the company, and Jörg Lamparter, head of the travel service of Daimler Financial Services AG, attended the signing ceremony.
In this high-end car service joint venture, Daimler Travel Services Co., Ltd. and Geely Group (New Business) Co., Ltd. will each hold half of the seats on the board of directors, and the two parties will jointly develop the software infrastructure needed to conduct business in China.
The joint venture company will help Geely Group (New Business) Co., Ltd. and Daimler Group to expand new travel business.
Zhejiang Geely Holding Group Co., Ltd. has launched the 'Cao Cao Special Car' travel service in China's domestic market, launching more than 29,000 pure electric vehicles in 28 cities across the country, with more than 17 million registered users, and more than 100 active users per day on APP applications. 10,000, the actual daily transaction volume exceeds 360,000.
Through the joint venture, Daimler's travel services will further expand its global business. As of September 30, 2018, the total number of users of smartphones such as car2go, Zhixing moovel and mytaxi reached 26 million. Currently, Daimler is China. More than 470,000 users offer free-flowing car sharing services, car2go and site-based car sharing service Car2Share, which has completed more than 20 million kilometers of shared travel miles. Through the proposed joint venture, Daimler will further Advancing its strategy of 'C?A?S?E', which includes four areas, namely Connected, Autonomous, Shared & Services and Electric.