Daimler Mobility Services Acquires French Uber Competitor

Daimler Mobility Services — which is under the operation of Daimler Financial Services — acquired a majority stake in Chauffeur Privé, a private-hire vehicle service in France, yesterday. Daimler Mobility Services now controls more than 50%, with the intention to fully acquire Chauffeur Privé by 2019, the company said in an announcement. Financial details were […]
  • Emma Sandler
  • December 22, 2017
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China Ripe for Auto Finance Boom as Consumer Penetration Rate Rises

Since 2009, China has surpassed the United States as the largest market for new-vehicle sales, according to Deloitte Consulting LLC. And now, auto finance is starting to catch up. For many years, the Chinese automotive market has been propped up by government incentives like tax breaks, which encouraged customers to purchase cars. So far, this […]
  • Emma Sandler
  • December 20, 2017
  • 0

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
  • 1

Daimler Sees Financing Uptick in China, but Declines in the Americas

Daimler Financial Services reported a decrease in leasing and loan contracts in the Americas, but saw a “significant” increase in China — in addition to growth in its mobility services sector, according to the company’s third-quarter earnings released today. “Daimler Financial Services anticipates significant growth in new business and further contract volume based on the […]
  • Emma Sandler
  • October 20, 2017
  • 0

Daimler AG Prepares for Corporate Overhaul

Daimler AG provided more insight into plans for its largest corporate overhaul in a decade, giving more independence to Mercedes-Benz Cars & Vans, Daimler Trucks & Buses, and the existing legally independent Daimler Financial Services AG, the company said Monday in a statement. While the overhaul was first proposed in July, neither the Board of Management nor the Supervisory […]
  • Emma Sandler
  • October 17, 2017
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Daimler Financial Continues Mobility Expansion With Turo Investment

Fresh off the announcement Tuesday that Daimler Financial Services — which operates Daimler AG’s mobility unit — is forming a joint venture with Via, the captive is now investing in carshare startup Turo. Turo raised $92 million in Series D funding with Daimler and SK Holdings — one of South Korea’s largest conglomerates — leading the round. The $92 million Series D funding […]
  • Emma Sandler
  • September 7, 2017
  • 0

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
  • 2

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
  • 3

Daimler Invests in Mobility for Boon in Financial Services Division

Daimler Financial Services is looking to grow its portfolio by more than 5.5% through 2020, largely driven by its investments in mobility, according to the company’s second-quarter earnings report. The OEM intends to spend 15.2 billion Euros on the development of mobility in 2017 and today the company serves 14.5 million people worldwide through a […]
  • William Hoffman
  • July 31, 2017
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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
  • 1