BMW's digital parking service enables ticketless, cashless on-street parking and helps uses find spaces in garages.The combined business would also offer charging services for battery-powered cars.The 50-50 joint venture requires approval from anti-trust authorities. The companies did not say what its name, headquarters, annual revenue would be, or what executives would run it. "As pioneers in automotive engineering, we will not leave the task of shaping future urban mobility to others," Daimler CEO Dieter Zetsche said in a statement. "There will be more people than ever before without a car who will still want to be extremely mobile. We want to combine our expertise and experience to develop a unique, sustainable ecosystem for urban mobility."

Source: Economic Times March 28, 2018 13:18 UTC