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BMW to offer ride-hailing services
Reuters | 2018/11/23

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

BMW Mobility Service, 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.

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

China's ride-hailing market is worth $23 billion (159.5 billion yuan), more than all other ride-hailing markets combined, with China's Didi Chuxing dominating with 90 percent of all bookings, consulting firm Bina & 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 company was making progress in its drive for closer relations with the maker of Mercedes-Benz cars.

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