Daimler Mobility AG and Geely Technology Group inaugurate 'StarRides' Premium Ride-Hailing Service in Hangzhou

STUTTGART, Germany and HANGZHOU, China, Dec. 3, 2019 /PRNewswire/ -- Daimler Mobility AG and Geely Technology Group, a subsidiary of Zhejiang Geely Holding Group (Geely Holding), today unveiled the premium ride-hailing provider StarRides in China with inaugural services to begin in Hangzhou in December 2019. The ride-hailing joint venture will begin operating in Hangzhou, a city of more than 10 million people that is home to leading Chinese companies including Geely Holding, and some of the country's leading technology businesses.

The 50-50 joint venture between Daimler Mobility AG and Geely Technology Group is based in Hangzhou, where services will be launched with a fleet of 100 vehicles including Mercedes-Benz S-Class, E-Class and V-Class vehicles. StarRides will expand to other major cities in China starting in 2020.

As previously announced, Daimler Mobility AG and Geely Technology Group will be equally represented on the board of management of the new ride-hailing service, for which the two companies have developed the software infrastructure required to support the business in China. A joint board of directors includes Liu Jin Liang, CEO of Geely Technology Group, and Joerg Lamparter, member of the Board of Management of Daimler Mobility AG. Tom Gu joined StarRides on September 1, 2019 as Chief Executive Officer, leading a staff of 80 employees.

Joerg Lamparter, board member Daimler Mobility AG for Digital & Mobility Solutions, said: "Premium ride-hailing is an essential element in our mobility ecosystem ranging from multi-year financing contracts to flexible leasing, car rental and subscription models to on-demand mobility. With Geely Technology Group, we have found an excellent partner to expand our mobility ecosystem in China. StarRides will play a significant role in addressing customer needs in the premium ride-hailing segment and solidifying our strong position in the mobility market."

Liu Jin Liang, CEO of Geely Technology Group, said: "We are proud to launch China's first premium ride-hailing services in Hangzhou, the city where Geely Holding is based – and a city that is home to companies pioneering technology innovation in this country. StarRides is the latest symbol of our cooperation with Daimler, which we expect to create win-win opportunities for both companies. It also reflects Geely Holding's continued transformation as a mobility and transport technology company."

StarRides is able to secure a safe, convenient and premium one-stop mobility experience for customers. The brand slogan is "The Best in Motion". Customers can download the StarRides App in the Apple App Store and Google Play Store. The "mobility chauffeurs" of StarRides are trained by top chauffeur trainers, consistent with global standards, and have compliant driving license for online ride-hailing services. They are uniformly and neatly dressed and well-experienced, some of whom are premium service personnel capable of speaking Chinese and English when serving international users.

Inaugural services by StarRides follows a year of development and planning by Daimler Mobility and Geely Technology Group, which unveiled the project in October 2018. At the same time Daimler AG and Geely Holding are establishing a 50-50 globally focused joint venture to own, operate and further develop smart, the pioneer of small urban vehicles, as a leader in premium-electrified vehicles.

Further information from Daimler is available at:
www.media.daimler.com and www.daimler-mobility.com 
www.zgh.com

This document contains forward-looking statements that reflect our current views about future events. The words "anticipate," "assume," "believe," "estimate," "expect," "intend," "may," "can," "could," "plan," "project," "should" and similar expressions are used to identify forward-looking statements. These statements are subject to many risks and uncertainties, including an adverse development of global economic conditions, in particular a decline of demand in our most important markets; a deterioration of our refinancing possibilities on the credit and financial markets; events of force majeure including natural disasters, acts of terrorism, political unrest, armed conflicts, industrial accidents and their effects on our sales, purchasing, production or financial services activities; changes in currency exchange rates and tariff regulations; a shift in consumer preferences towards smaller, lower-margin vehicles; a possible lack of acceptance of our products or services which limits our ability to achieve prices and adequately utilize our production capacities; price increases for fuel or raw materials; disruption of production due to shortages of materials, labor strikes or supplier insolvencies;
 a decline in resale prices of used vehicles; the effective implementation of cost-reduction and efficiency-optimization measures;
the business outlook for companies in which we hold a significant equity interest; the successful implementation of strategic cooperations and joint ventures; changes in laws, regulations and government policies, particularly those relating to vehicle emissions, fuel economy and safety; the resolution of pending government investigations or of investigations requested by governments and the conclusion of pending or threatened future legal proceedings; and other risks and uncertainties, some of which we describe under the heading "Risk and Opportunity Report" in the current Annual Report. If any of these risks and uncertainties materializes or if the assumptions underlying any of our forward-looking statements prove to be incorrect, the actual results may be materially different from those we express or imply by such statements. We do not intend or assume any obligation to update these forward-looking statements since they are based solely on the circumstances at the date of publication.

Daimler at a glance
Daimler AG is one of the world's most successful automotive companies.
With its Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses, and Daimler Mobility divisions, the Group is one of the leading global suppliers of premium cars and is the world's largest manufacturer of commercial vehicles over six tons. Daimler Mobility offers financing, leasing, fleet management, investments, credit card and insurance brokerage as well as innovative mobility services. The company founders, Gottlieb Daimler and Carl Benz, made history by inventing the automobile in 1886. As a pioneer of automotive engineering, Daimler sees shaping the future of mobility in a safe and sustainable way as both a motivation and obligation.

The company's focus therefore remains on innovative and green technologies as well as on safe and superior vehicles that both captivate and inspire. Daimler continues to invest systematically in the development of efficient powertrains – from high-tech combustion engines and hybrid vehicles to all-electric powertrains with battery or fuel cell – with the goal of making locally emission-free driving possible in the long term. The company's efforts are also focused on the intelligent connectivity of its vehicles, autonomous driving and new mobility concepts. Daimler regards it as its aspiration and obligation to live up to its responsibility to society and the environment. Daimler sells its vehicles and services in nearly every country of the world and has production facilities in Europe, North and South America, Asia and Africa. In addition to Mercedes-Benz, the world's most valuable premium automotive brand (source: Interbrand study, 4 Oct. 2018), and Mercedes-AMG, Mercedes-Maybach and Mercedes me, its brand portfolio includes smart, EQ, Freightliner, Western Star, BharatBenz, FUSO, Setra and Thomas Built Buses as well as the brands of Daimler Mobility: Mercedes-Benz Bank, Mercedes-Benz Financial Services and Daimler Truck Financial. The company is listed on the Frankfurt and Stuttgart stock exchanges (ticker symbol DAI).
In 2018, the Group had a workforce of around 298,700 and sold 3.4 million vehicles.
Group revenues amounted to €167.4 billion and Group EBIT to €11.1 billion.

About Zhejiang Geely Holding Group
Zhejiang Geely Holding Group (ZGH) is a global automotive group that owns several well-known international automotive brands, with operations spanning the automotive value chain, from research, development and design to production, sales and servicing.

Founded in 1986 by Li Shufu, the company's Chairman, in the city of Taizhou in China's Zhejiang province, Geely Holding launched its automotive business in 1997 and is now headquartered in Hangzhou, China. The Group is comprised of five main businesses: Geely Auto Group, Volvo Car Group and Geely New Energy Commercial Vehicle Group, Geely Technology Group, Mitime Group. Its brands include Geely Auto, LYNK & CO, Geometry, Volvo Car, Polestar, London Electric Vehicle Company (LEVC), Farizon Auto, PROTON, Lotus, and Terrafugia.

ZGH sold over 2.15 million vehicles in 2018, with Volvo Car sales reaching historic highs of 642,253 cars globally and Geely Auto Group sales growing over 20% to reach 1,500,838 units in total. In the first half of 2019, ZGH sold over 1.11 million vehicles throughout the world. ZGH has over 120,000 employees across the world, and has been listed in the Fortune 500 for the past eight years. For more info on Zhejiang Geely Holdings please refer to the official website at www.zgh.com

SOURCE Daimler Mobility AG

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