Daimler Mobility Services and Geely Group Company, Geely Holding Group’s new business entity, announced they will form a premium ride-hailing joint venture in China. The 50-50 joint venture (JV) will be headquartered in Hangzhou. The JV will provide ride-hailing mobility services in several Chinese cities using premium vehicles including, but not limited to, Mercedes-Benz vehicles. The fleet initially will include Mercedes-Benz S-Class, E-Class, and V-Class and Maybach vehicles and could be supplemented by premium electric vehicles of the Geely Group. Financial terms and the investment plans of the JV have not been disclosed at this stage. The implementation of the JV is subject to approval by the merger control authorities.

As part of the JV, Geely Group Company and Daimler Mobility Services will be equally represented on the board of the new ride-hailing service, for which the two companies will jointly develop the software infrastructure required to support the business in China.