Breaking News
0

Bosch starts new division, acquires U.S. carpooling start-up

TechnologyFeb 21, 2018 06:10AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: The Bosch logo is reflected in a semiconductor wafer in Reutlingen

(Reuters) - Germany's Robert Bosch [ROBG.UL] on Wednesday created a new division to expand its reach in the markets for ride services and connected vehicles and acquired a small U.S. ride services company as part of the strategic shift.

The carpooling start-up Splitting Fares Inc, whose app connects people who share the same route to their place of work or study, will be part of Bosch's new Connected Mobility Solutions division, the world's largest automotive supplier said.

The two companies did not disclose the purchase price.

Splitting Fares, founded in 2015, was helped by early investments from Verizon, Wells Fargo (NYSE:WFC) and Detroit-based Fontinalis Partners, which is co-owned by Ford Motor (NYSE:F) Executive Chairman Bill Ford.

Bosch said its new division will focus on vehicle sharing, ridesharing and connectivity-based services for car drivers.

It will also include Bosch's unit COUP, which rents e-scooters in Berlin and Paris and its newly developed system of connected electrified powertrain components called System!e.

"Connectivity is a way for us to rethink not just the car but the whole way we use modes of transport," Bosch Chief Executive Volkmar Denner said.

As the automotive supplier expands to ride-sharing services, Bosch would be pitted against its auto parts customers such as Uber and Didi, which are also working on self-driving cars.

Earlier this month, Bosch said it would start testing self-driving cars that it has been developing with Mercedes-Benz owner Daimler.

Bosch starts new division, acquires U.S. carpooling start-up
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email