Germany’s Bosch snaps up US commuter app
FRANKFURT AM MAIN: The world’s largest car parts supplier Bosch leapt into ride-sharing services yesterday, announcing the takeover of US commuter carpooling startup Splitting Fares. Stuttgart-based Bosch did not say how much it paid for the Detroit-based firm, also known as SPLT, which was founded in 2015. In a market that has been dominated in recent years by taxi-style giants such as Uber and Lyft, Bosch said it saw development opportunities in the sector for companies to offer ride-sharing services to their employees.
“Companies and commuters have been seen as less of a priority” so far, it said in a statement. Bosch believes travel to and from work is a “growth market”, part of a far-reaching shift in personal transport powered by the mobile internet. Bosch is following in the footsteps of other German giants like BMW or Daimler, who have been exploring ridesharing for much longer. The move yesterday fitted into a wider re-organization at the company to create a “Connected Mobility” division with more than 600 employees, offering everything from ride-sharing to realtime safety alerts for drivers. — AFP