Daimler, BMW want to take on Uber
Daimler and BMW say they’re building a $1 billion war chest to battle Uber, Lyft and others for world domination of the ride-hailing and car-sharing businesses. The plan, which will add 1,000 jobs to mobility units at the companies, will initially focus on Europe and may include acquisitions. While Uber is poised to list shares this year at valuations of as high as $120 billion, the German carmakers say their “unified platform” should interest investors.