Stellantis has agreed a deal to acquire the Share Now car sharing mobility provider formed through a joint venture involving BMW and Mercedes-Benz.
The move will boost the car manufacturing giant’s bid to become a “car-sharing leader” with the addition of 14 major European cities and 10,000 vehicles to an existing car sharing fleet of 2,500 vehicles offered via its Free2move mobility solution.
In a statement announcing the agreement to acquire Share Now Stellantis said Free2move is already a key market mobility player for B2B and B2C customers with a fleet of more than 450,000 cars offering rental, car sharing and subscription services, 500,000 parking places and a network of 250,000 charging stations.
And it said that Share Now will further its provision of a “360-degree seamless customer experience” − mobility by the minute, hour, day or month – through the addition of more than 3.4 million customers to its two million existing users.
Freetomove chief executive Brigitte Courtehoux said: “Integrating Share Now’s strong position in major European cities will allow our customers to gain greater access to a wider range of services to satisfy their varied mobility needs.
“Equally important, this acquisition will also accelerate our profitable growth. We are now a step closer to achieving our goal of expanding Free2move’s worldwide presence to 15 million active users by 2030.”
Share Now exited the US market in 2019 citing high maintenance costs and the "volatile state of the global mobility landscape".
Today, Reuters reported that through the sale Share Now BMW and Mercedes-Benz would shift their focus on the two remaining parts of their mobility cooperation: Free Now, an app that enables the booking of cars, taxis, e-scooters and e-bikes, and the charging infrastructure booking app Charge Now.
In December last year Stellantis revealed plans to accelerate its turnover from software-enabled services and subscriptions to €4 billion (£3.4bn) in 2026 and €20bn (£17bn) in 2030 as its transitions to a new role as a “sustainable mobility tech company”.
Announcing the plan, Stellantis chief executive Carlos Tavares said: “Our electrification and software strategies will support the shift to become a sustainable mobility tech company to lead the pack.”
Free2move recently announced the acquisition of Opel Rent, accelerating its growth strategy in Germany and Austria.
It has also accelerated its car-sharing expansion in the US, with the service now available in Washington DC, Portland, Oregon, Denver, Colorado, Columbus, Ohio and Austin, Texas as well as European cities Paris and Madrid.
In today’s statement regarding the acquisition of Share Now from OEM rivals BMW and Mercedes, Stellantis said that the move would further enhance its economies of scale and synergies, contributing to its Dare Forward 2030 ambition of growing the profitable mobility service to net revenues of €2.8bn with a first step of €700m revenues in 2025.