Overview

• BMW and Mercedes-Benz have sold their joint mobility platform Freenow to US ride-hailing company Lyft for €175 million.
• The automakers stated that the sale supports their strategic shift toward electrification, digitalization, AI, and decarbonization.
• Freenow, originally launched as Mytaxi in Hamburg, evolved into a major ride-hailing platform competing with Uber and Bolt.
• Lyft confirmed it will focus on Freenow's taxi services and selectively expand ride-hailing operations in markets where regulations permit.
• Freenow reported profitability last autumn, attributing this success to its strategic pivot to traditional taxi services.