FRANKFURT -- BMW and Daimler will name their combined short-term rental venture "Jurbey," a source familiar with the matter said.
The German automakers last year unveiled plans to combine their short-term rental businesses to compete with rivals such as Uber in the United States and Didi Chuxing in China.
Under the terms of their deal, which includes Daimler's Car2Go and BMW's DriveNow as well as ride-hailing, parking and charging services, the two automakers will each hold a 50 percent stake in the joint venture.
Daimler and BMW declined to comment.
Automotive website The Drive was first to report on the brand name.