Home Business Free2move by Stellantis buys Share Now: the global car sharing giant is born

Free2move by Stellantis buys Share Now: the global car sharing giant is born

by admin
Free2move by Stellantis buys Share Now: the global car sharing giant is born

Free2move, a global mobility brand part of the Stellantis group, has acquired the car sharing company Share Now, the joint venture established in 2019 by BMW Group and Mercedes-Benz Mobility. The agreement further strengthens Free2move’s position in global mobility, adding 14 European cities with more than 10,000 cars to Free2move’s 2,500-vehicle car sharing fleet.
By leveraging Free2move’s financial discipline and ability to run a profitable business, the acquisition will further improve economies of scale and synergies, according to the company, contributing to the Dare Forward 2030 ambition, Stellantis’ strategic plan, which it plans to grow its mobility services up to net revenues of 2.8 billion euros, with a first step of 700 million euros in 2025.
“The integration of Share Now’s strong positioning in major European cities will allow our customers to have access to a wider range of services to meet their different mobility needs,” said Brigitte Courtehoux, CEO of Free2move, noting that ” it is equally important that this acquisition accelerates our growth in terms of profit. We are now closer to reaching our goal of expanding Free2move’s presence worldwide, reaching 15 million active users by 2030 ”.
The term of the acquisition is subject to customary closing conditions, including compliance with antitrust requirements. Free2move recently announced the acquisition of Opel Rent, accelerating the growth strategy in Germany and Austria and pushing the transition from rental to mobility provider.

See also  UniCredit: bod approves draft financial statements and consolidated financial statements as at 31 December 2021

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy