Stellantis strengthens its presence in car sharing: the subsidiary Free2move acquires ShareNow

Stellantis, operating in its strategic plan Dare Forward 2030“, Through the control Free2Move announced the acquisition ShareNow. The latter is a car sharing company owned by the BMW and Mercedes-Benz groups, taken over by them after the merger in 2019 between Car2Go e Drive Now.

Details of the deal, scheduled to close in September, which is subject to antitrust reviews, were not disclosed. Free2move’s acquisition of ShareNow is the brand’s biggest step towards growing its businesses that began in 2016.

The sale of ShareNow to Free2Move marks another exit of car manufacturers in the car sharing market. This is not true for Stellantis which, on the contrary, considers it very profitable. BMW and Mercedes-Benz say they will focus on digital multi-mobility and services related to electric vehicle charging.

Free2move, with the acquisition of ShareNow, expands to 14 other European cities

Free2move currently operates a car sharing service in the United States and Europe. With the acquisition, ShareNow will add 10,000 vehicles to Free2move’s 2,500 fleet and 3.2 million users to its existing 2 million. Furthermore, to the 7 European cities where Free2Move is already active, a further 14 will be added. And finally, we must not forget the charging network for electric vehicles managed by Free2Move which currently has 250,000 stations in Europe.

“The integration of ShareNow’s current positioning in major European cities will allow our users to have access to a wider range of services” he said Brigitte Courtehoux, CEO di Free2move.

In Free2Move’s intentions, by 2030, the number of customers will be 15 million all over the world. If this occurs in the coffers of Stellantis’ subsidiary, it will bring nearly $ 3 billion in annual revenue, up from $ 42 million last year.