January 22, 2019 / 5:59 PM / 8 months ago

BMW and Daimler to name ride-hailing venture 'Jurbey': source

The Daimler is seen during a press conference on the second press day of the Paris auto show, in Paris, France, October 3, 2018. REUTERS/Regis Duvignau

FRANKFURT (Reuters) - German companies BMW and Daimler will name their combined ride-hailing and car-sharing firm “Jurbey”, a source familiar with the matter said on Tuesday.

Daimler and BMW declined to comment.

Automotive web site The Drive was first to report on the brand name.

Germany’s luxury carmakers last year unveiled plans to combine their car-sharing businesses to compete with ride-hailing firms like Uber [UBER.UL] in the United States and Didi Chuxing in China.

Under the terms of their deal, which includes car-sharing units Car2Go and DriveNow as well as ride-hailing, parking and charging services, Daimler and BMW will each hold a 50 percent stake in the joint venture.

Reporting by Edward Taylor; Editing by Douglas Busvine and Edmund Blair

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