Stellantis’ mobility division Free2move has completed the acquisition of car sharing company Share Now, a joint venture formed by Mercedes-Benz Mobility Group and BMW Group in 2019.
The OEM claims that the deal – initially agreed in May this year – positions Free2move as a leading global mobility player, adding 14 major European cities and 10,000 vehicles to its existing car sharing fleet of 2,500 vehicles.
It comes less than a fortnight on from Volkswagen Group completed its takeover of vehicle rental giant Europcar – a development it described as a ‘mobility milestone’.
Like the Europcar offering, the Free2move mobility service model allows a customer to take a car for a few minutes or a few hours.
If a customer would like the vehicle longer, they are able to keep the same car without changing the contract − Free2move pricing adjusts automatically.
The scheme is already operational in the United States and Europe.
Commenting on the addition of the Share Now business, Free2Move chief executive Brigitte Courtehoux said: “We are very enthusiastic about the new chapter we are about to write with Share Now, the European leader in free-floating car-sharing.
“Free2move and Share Now are very complementary and our joint expertise now grants us the savoir-faire to truly innovate in the worldwide mobility market. I offer a very warm welcome to every Share Now colleague as they join the Free2move family.”
Free2move claims that the Share Now acquisition will enhance its economies of scale and synergies, contributing to its Dare Forward 2030 ambition of growing the profitable mobility service to net revenues of €2.8 billion with a first step of €700 million revenues in 2025.
Free2move recently announced the acquisition of Opel Rent, accelerating its growth strategy in Germany and Austria and pushing the transition from rent to mobility provider.
Meanwhile, it has accelerated its car-sharing expansion in the US, with service now available in Washington, Portland, Oregon, Denver, Colorado, Columbus, Ohio and Austin, Texas.
Free2move also operates car sharing in Europe (Paris and Madrid).
Completion of the acquisition is subject to customary closing conditions, including the satisfaction of antitrust requirements.