Daimler will ensure a capital increase for heycar and in return will acquire a 20% stake in Mobility Trader Holding GmbH, which operates the heycar platform in Germany via its subsidiary, Mobility Trader GmbH.
Daimler will have a seat on the advisory board of that subsidiary and – if and when it expands beyond Germany – on the board of each additional international subsidiary.
The value of the transaction has not been disclosed. The deal is subject to approval by the relevant antitrust authorities.
Founded in October 2017, heycar is a premium platform for trading used cars that is both brand-neutral and focused on working with authorized dealers. The platform currently offers more than 300,000 vehicles from over 1,000 dealer groups at around 3,000 locations in Germany.
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