Bosch acquires B2B ride-share SPLT and establishes mobility service arm
German component supplier Robert Bosch has acquired Detroit-based ride-sharing service Splitting Fares which is branded as SPLT, Handelsblatt reports. The purchase has been announced by Bosch, but no details of the transaction amount have been disclosed, the report states. TechCrunch.Com also reports that Bosch is in the process of establishing a dedicated mobility services division. The TechCrunch report states, "The SPLT acquisition is a cornerstone piece of its new focus on mobility services, with the aim of offering everything from shared rides in cars to company buses on the same, easy to use platform with end user smartphone apps and easy ride booking." SPLT will continue to operate independently as a wholly owned subsidiary of Bosch after the acquisition.
Significance: The acquisition of SPLT puts Bosch in direct competition with other ride-hailing companies such as Uber and Lyft, Handelsblatt reports. Bosch will now also be a competitor for the carmakers it supplies components to, as the number of automakers entering the ride-hailing industry is also on the rise. For example, in December 2017 Daimler announced that it had acquired a majority stake in French private hire vehicle service, Chauffeur Privé. The deal is part of Daimler's wider strategy to become a leader in mobility services in Europe. It will join Daimler's growing roster of businesses providing related services such as its car2go car-sharing business and the mytaxi ride-hailing service, as well as its mobility platforms such as moovel.
About this articleThe above article is from AutoIntelligence Daily by IHS Markit. AutoIntelligence Daily provides same-day analysis of automotive news, events and trends. Get a free trial.
- New vehicle sales in Philippines surge in March 2019
- Shanghai Motor Show 2019: New energy vehicles take centre stage
- New York Auto Show 2019
- New vehicle sales in Vietnam surge Q1 2019
- SIAM urges Indian government to reduce GST on cars to 18%
- European Parliament approves post-2020 CO2 emission targets for cars and vans
- Argentine light-vehicle registrations decline 54% y/y in March
- Brazilian light-vehicle sales and production drop in March, exports continue decline
An Automotive Minute from IHS Markit. Devin Lindsay discusses how fully electric vehicles in the US reach record v… https://t.co/yg2pPYjHZD
New vehicle sales in the Philippines stood at 32,173 units during March, up by 14% y/y. IHS Markit expects light-ve… https://t.co/suJ04YP2n4