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MarketScreener Homepage  >  Equities  >  Xetra  >  Bayerische Motoren Werke       DE0005190003

BAYERISCHE MOTOREN WERKE

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Bayerische Motoren Werke AG : BMW Group launches premium car sharing in US

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08/21/2012 | 03:59am EDT

BMW Group launches premium car sharing in US

Munich/San Francisco. The BMW Group has now extended its premium car sharing   program DriveNow to the US. DriveNow starts out in San Francisco with 70 electric        vehicles. The innovative mobile parking solution, ParkNow, will debut in the Californian city in September.

Ian Robertson, Member of the Board of Management of BMW AG, responsible for BMW Sales and Marketing: "The BMW Group not only manufactures premium automobiles, but also develops a range of services to meet the growing need for flexible mobility solutions in urban areas. The launch of DriveNow and ParkNow in San Francisco and other cities is part of our commitment to the development of new mobility offerings, which will reduce the level of pollutant emissions and traffic congestion and improve quality of life for residents."

Seventy fully-electric, zero-emission BMW ActiveE cars will be located at nine DriveNow stations across the entire city for the launch of DriveNow in San Francisco. Customers    register online or in person and can then use the DriveNow website or a mobile app to    locate and reserve an available vehicle. The vehicle can be returned to the pick-up location   or any other DriveNow station - so one-way trips are also possible, when needed. Through a partnership with the Californian company Coulomb Technologies and use of its ChargePoint network, drivers can easily locate the nearest charging point, in case they need to charge the vehicle during their unlimited rental. Parking and charging at DriveNow stations are free. Coulomb Technologies is the supplier behind the online network, ChargePoint. This, the world's largest charging network, consists of independently-owned electric-vehicle charging stations.

The DriveNow premium car sharing programme is a modern mobility concept that         combines top-quality vehicles and service with simple, flexible usage. DriveNow is the first car sharing concept to focus consistently on highly-efficient premium vehicles and        comprehensive service. DriveNow was launched in Germany in June 2011 as a car sharing joint venture between the BMW Group and the car rental company Sixt AG. DriveNow    now has around 45,000 members and is available in Munich, Berlin and Düsseldorf and, from the autumn, also in Cologne. In the US, DriveNow is a wholly-owned subsidiary of     the BMW Group.

The electronic mobile parking service ParkNow allows users to reserve a parking space in advance, at a guaranteed, clearly-defined rate in accordance with the driver's personal   preferences. Customers can either use the ParkNow iPhone app to find a parking space,    or reserve one, pay for it and get directions directly to it through the ParkNow website.    This reduces both the time involved in finding a parking space and the environmental     impact from pollutant emissions. 14 ParkNow stations are currently set up in and around San Francisco. ParkNow is a joint venture between BMW i Ventures and Urban Mobility.

The BMW Group offers DriveNow and ParkNow under its BMW i sub-brand. BMW i also delivers innovative mobility services that reinforce the BMW parent brand's position as a sustainable, future-oriented brand. The BMW i brand comprises, in particular, the two    revolutionary new vehicles, the BMW i3 and BMW i8, which will come onto the market in 2013 and 2014 respectively. These two models will be the first series-produced vehicles specially built with electric engine and electric hybrid drive train.

The venture capital company BMW i Ventures was founded in 2011 under the BMW i    sub-brand, to provide financial support for companies developing mobility solutions for problems in densely-populated cities worldwide. The company aims to enhance individual mobility and is specialised in the areas of mobile connectivity and location-based services. BMW i Ventures is primarily focused on providing top-class mobility services. This also   involves solutions that are not designed exclusively for the automobile.

The BMW Group

The BMW Group is one of the most successful manufacturers of automobiles and motorcycles in the world with its BMW, MINI, Husqvarna Motorcycles and Rolls-Royce brands. As a global company, the BMW Group operates 29 production and assembly facilities in 14 countries and has a global sales network in more than 140 countries.

In 2011, the BMW Group sold about1.67 million cars and more than 113,000 motorcycles worldwide. The profit before tax for the financial year 2011 was euro 7.38 billion on revenues amounting to euro 68.82 billion. At 31 December 2011, the BMW Group had a workforce of approximately 100,000 employees.

The success of the BMW Group has always been built on long-term thinking and responsible action. The company has therefore established ecological and social sustainability throughout the value chain, comprehensive product responsibility and a clear commitment to conserving resources as an integral part of its strategy. As a result of its efforts, the BMW Group has been ranked industry leader in the Dow Jones Sustainability Indexes for the last seven years.

www.bmwgroup.com

Facebook: http://www.facebook.com/BMWGroup

Twitter: http://twitter.com/BMWGroup

YouTube: http://www.youtube.com/BMWGroupview

If you have any questions, please contact:

Corporate Communications

Micaela Sandstede, Wirtschafts- und Finanzkommunikation, micaela.sandstede@bmw.de

Telefon: +49 89 382-61611, Fax: +49 89 382-24418

Technology Communications

Cypselus von Frankenberg, head of Technology Communications, Cypselus.von-Frankenberg@bmw.de

Telephone: +49 89 382-30641, Fax: +49 89 382-28567

Email: presse@bmw.de

The following AV media material regarding this press release was compiled for you. You can also find additional material using the navigation items "Photo", "Audio" and "Video and TV".

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Financials (€)
Sales 2019 98 933 M
EBIT 2019 8 028 M
Net income 2019 5 973 M
Finance 2019 17 236 M
Yield 2019 4,36%
P/E ratio 2019 8,21
P/E ratio 2020 7,62
EV / Sales 2019 0,33x
EV / Sales 2020 0,32x
Capitalization 50 301 M
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Mean consensus HOLD
Number of Analysts 30
Average target price 78,0 €
Spread / Average Target 0,99%
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NameTitle
Harald Krüger Chairman-Management Board
Norbert Reithofer Chairman-Supervisory Board
Nicolas Peter Chief Financial Officer
Susanne Klatten Independent Member-Supervisory Board
Manfred Schoch Deputy Chairman-Supervisory Board
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