It looks like the joint venture between BMW and Daimler in the field of alternative transportation didn’t work out too well. The two are now reportedly looking to sell some of their joint-developed companies in hopes of getting funds back into more important projects. To this end, BMW and Daimler are apparently interested in selling Park Now, their parking solution for busy cities.
Bloomberg reports that the two German giants are currently in talks to sell Park Now and it seems like the favorite buyer right now might be EasyPark Group. According to their sources, an agreement could be reached over the next following weeks but there’s no official confirmation coming through the wire right now. The Stockholm-based group, EasyPark, will have to come up with the best offer for the app, and other rivals might still swoop in and steal their thunder.
At the same time, BMW and Daimler have to agree on a number of topics before the sale is actually made. Reports about selling the Park Now arm of the business have been floating online for quite some time now, but according to an older report, BMW was reticent about selling. If the optics changed, we could see a deal go through and the ongoing pandemic might have a lot to do with it.
Park Now allows you to find parking spots on the street of in private lots around the world. The company has been expanding in recent years and both BMW and Daimler infused capital into it up until 2020. As soon as the pandemic hit though and the industry went into a downward spiral, things were put on a hold and a sale to EasyPark could offer a capital infusion to keep things nice and cool on the long run.