Free2Move (Stellantis Group) signed an agreement to acquire the joint venture Share Now, formed by Mercedes-Benz Mobility and BMW in 2019.
This proposed agreement further positions Free2move as the leading global mobility player, adding 14 major European cities and 10,000 vehicles to Free2move’s existing car sharing fleet of 2,500 vehicles.
Leveraging Free2moves’ financial discipline and ability to manage a profitable business, this acquisition will 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 €2.8 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 United States, with service now available in Washington, D.C., 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.
Source: Stellantis
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