Daimler and BMW announced on Tuesday that they want to sell their joint Park Now application to Swedish rival EasyPark, Reuters reports.
The application allows customers to search and pay for parking spaces.
Park Now is part of the joint venture established in 2019 and has five axes, including smartphone route management, parking reservation and a charging service for electric vehicles.
The financial details of the transaction were not disclosed.
BMW is investing 400 million euros in a new vehicle assembly at the main plant in Munich and move its European production activities for internal combustion engines at the Steyr and Hams Hall locations.
In Munich, following the expansion of the body shop and construction of a new resource-efficient paint shop between 2016 and 2018, BMW will be investing around 400 million euros in a new vehicle assembly between now and 2026.
The new assembly in Munich will be built on the site currently used for engine production.
As a result, the combustion engines with four, six, eight and 12 cylinders produced there will be manufactured at the company’s locations in Steyr in Austria and Hams Hall in the UK.
Engine production will be relocated from Munich in stages by no later than 2024.
SeeAll Group’s two dealerships, Allmend Garage and Seeblick Garage, are Hedin’s first in Switzerland, adding to the existing relationship with BMW in Norway and Sweden.
The Swiss dealerships had a turnover of around 100 million Swiss franc in 2019. The acquisition expands Hedin’s total representation to 123 dealerships across four countries.
Upon closing, SeeAll will become part of a wholly owned, newly established Swiss subsidiary of Anders Hedin Invest AB, folded into the Scandinavian BMW division, Hedin Automotive in Norway. Through the I.A. Hedin Bil AB subsidiary, Bavaria, Hedin Group is the largest dealer of BMW and MINI in Scandinavia.
“We are pleased to expand our dealership footprint to Switzerland and to increase our long-standing, strong partnership with BMW,” said Stig Saeveland, chief executive officer of Hedin Automotive Norway.
“The expansion to Switzerland is an important milestone in our company history. SeeAll reinforces our position in Europe, leveraging on our existing alliance with BMW to accelerate our international development in a fast-changing industry.” said Anders Hedin, Owner & CEO of Hedin Group.