Kuwait Times

Germany’s Bosch snaps up US commuter app

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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

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