Daimler Financial Services Launches Startup Incubator

Daimler Financial Services debuted a startup incubator at the 2017 Web Summit in Lisbon, Portugal, earlier this month, called Startup Intelligence Center (SIC). The incubator will focus on mobility, finance, and insurance services, according to a company statement. Entrepreneurs are able to pitch to the SIC, whereupon a jury of Daimler employees — from various areas of […]
  • Emma Sandler
  • November 22, 2017

EY’s New Blockchain System to Allow Shared-Ownership of Vehicles

Accounting and consulting firm EY, part of Ernst & Young Global Ltd., is launching a blockchain-based system that will allow both companies and groups of individuals to more easily share ownership of vehicles and access to cars and trucks. At its heart, blockchain is a distributed decentralized database technology that maintains a growing list of transactions, […]
  • Emma Sandler
  • September 11, 2017

Auto Lenders Provide Relief Amid Hurricane Harvey Devastation

The full economic impact of Hurricane Harvey on the auto industry has yet to be determined, but in the short term it’s clear that many consumers are going to need financial assistance and a number of lenders have stepped up to provide donations and consumer relief. Cox Automotive estimates between 300,000 and 500,000 vehicles could […]
  • William Hoffman
  • September 6, 2017

Daimler Financial Targets Boost in Mobility Presence With New Execs

Daimler Financial Services — which operates Daimler AG’s mobility services — is expanding its mobility ambitions with a joint venture investment and two new executive positions. Daimler Mobility Services and Mercedes-Benz Vans are forming a joint venture with New York City-based startup Via, along with a $50 million dollar investment from Mercedes-Benz Vans. The joint venture […]
  • Emma Sandler
  • September 5, 2017

Daimler AG Strategizes Splitting up Mercedes Divisions

Daimler AG is working on a corporate holding structure that could see Mercedes-Benz Financial Services broken out into a separate entity before the company’s annual general meeting on April 5, 2019, according to a new interview with chief executive Dieter Zetsche and chief financial officer Bodo Uebber. In the interview — from German business magazine […]
  • Emma Sandler
  • September 1, 2017

Daimler Performs Test of Blockchain in $114MM Transaction

Daimler AG issued a €100 million ($114.2 million) promissory note using blockchain technology, which the Mercedes-Benz manufacturer says is a first step to testing faster and more secure financial transactions across the company.     Normally, a transaction like this would take roughly 10 weeks for a bank to work as the administrative intermediary between […]
  • William Hoffman
  • June 30, 2017

Uber Restarts Autonomous Car Tests After Arizona Crash

Uber put its self-driving cars back on the road yesterday, just three days after one of its cars was involved in a crash in Tempe, Ariz. But despite the short setback in autonomous testing, the crash will not affect Uber’s self-driving partnership with Daimler AG. In January, Daimler struck an agreement with Uber to include the German […]
  • Natalie Mattila
  • March 28, 2017

New Partnership Formed to Study Blockchain in Financial Services

LAS VEGAS — The Structured Finance Industry Group (SFIG) and the Chamber of Digital Commerce yesterday announced a joint effort to study the potentials of distributed ledger technology, which will commence with a series of blockchain symposiums at this year’s SFIG 2017 conference. In addition to the educational workshops being held in Las Vegas this week, […]
  • Larissa Padden
  • February 28, 2017

Daimler Explores Use of Blockchain in Financial Services

Daimler AG joined the open-sourced Hyperledger Project last week, a collaborative cross-industry effort created to advance blockchain, in an effort to learn more about the technology. Although, the OEM does not have specific plans to implement blockchain in its operations, the company felt that it was the right time to build up its knowledge. “Being […]
  • Larissa Padden
  • February 27, 2017