30 Oct '17, 7pm

BMW, Mercedes invest in 'flexible car ownership' startup Fair

John Voelcker Oct 30, 2017 Follow John Add to circle 2018 BMW i3, 2017 Frankfurt Motor Show Enlarge Photo How would you know that the standard model for individuals buying new cars is dying? Sure, you could point to car sharing services like Car2go or Zipcar. Or you might point to ride hailing companies like Lyft or Uber. Maybe you think the subscription model for the Hyundai Ioniq Electric subscription service is the hot new thing. DON'T MISS: GM's Maven car-sharing adds Chevy Bolt EV electric cars (in LA) Here's another way: You could take a look at Fair, which just got up to $1 billion in debt and equity funding . Not to overstress the point, but some the money came from two big global carmakers—BMW and Mercedes Benz—among other Billed as "the future of car ownership," the idea behind Fair is to let drivers use cars under subscription service that charges a fixed fee ev...

Full article: https://www.greencarreports.com/news/1113500_bmw-mercedes...

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