a restructuring of their wide-ranging partnership on mobility services and technologies, per The Verge.
The restructuring is part of a broader push to make mobility a profitable venture as Daimler and BMW, along with the rest of the auto industry, face a number of headwinds to their businesses. For example, automakers must contend with tightening emission standards and the fact that the rise of mobility upstarts is reducing the value of vehicle ownership.
The companies found that car-sharing hasn't taken off in some key regions, causing the JV to reallocate its resources to other more promising markets and business ventures. Earlier this week, the auto giants that they would pull their Share Now car-sharing service out of North America, citing the volatile state of the global mobility landscape and rising infrastructure complexities in North America.
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