BMW's ReachNow Begins Service in China
The BMW Group is the first foreign company in China to obtain a license to operate a ride-hailing service.
The new ride-hailing service offers an additional mobility solution for those who do not wish to get behind the wheel themselves, but would rather book a car with driver.
Photo via BMW.
BMW is launching its ride-hailing service in Chengdu, the capital city of the Chinese province Sichuan, as part of its premium mobility brand ReachNow.
The BMW Group is the first foreign company in China to obtain a license to operate a ride-hailing service. By adding an additional premium mobility option to its existing carsharing business in China, the company seeks to further expand its mobility services offering.
The ride-hailing service will complement the current ReachNow carsharing business which was started in Chengdu in partnership with EVCARD in December 2017 and runs a fleet of 100 BMW i3 electric vehicles. The new ride-hailing service offers an additional mobility solution for those who do not wish to get behind the wheel themselves, but would rather book a car with driver.
Customers can use the BMW ReachNow App to either pre-book or instantly book a ride-hailing service.
BMW Group Expands Footprint in China
The expansion of mobility services in China represents one of numerous strategic investments announced this year in China.
In 2018 the BMW Group has further expanded its footprint and the scale of its commercial success in China. The BMW Group announced together with its partner Brilliance China Automotive Holdings Ltd. the early extension of the joint venture contract for BMW Brilliance Automotive (BBA) and the further deepening of the existing successful collaboration. Furthermore, the BMW Group intends to increase its stake in BBA from 50 percent to 75 percent. BBA will be investing more than $3 billion euros ($3.39 billion) in its plants in Shenyang over the next few years.
In 2020 the first fully-electric BMW — the all-electric BMW iX3 — will be built in China and exported to markets outside of China.
Additionally, the BMW Group has signed an agreement with the Chinese manufacturer Great Wall Motor to produce electric MINI vehicles in China through a mutual 50/50 joint venture. As well as electric MINI vehicles, the "Spotlight Automotive Limited" joint venture will also produce electric vehicles for Great Wall Motor. The establishment of the new company is subject to approval by the relevant Chinese authorities and the finalization of business registration procedures.
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