Company Announcements

Free2move Reinforces its Worldwide Leadership in Mobility Business by Acquiring Share Now

Source: OMX
Free2move Reinforces its Worldwide Leadership in Mobility Business by Acquiring Share Now

Free2move Reinforces its Worldwide Leadership in Mobility Business by Acquiring Share Now

  • A strategic step towards Stellantis Dare Forward 2030 goal of growing its profitable mobility service
  • Share Now acquisition will position Free2move as the car-sharing leader, adding 14 new European cities to Free2move’s 7 existing mobility hubs in the United States and Europe and enhancing technologic expertise to exceed customers’ expectations
  • 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
  • Free2move provides a 360° seamless customer experience − mobility by the minute, hour, day or month
  • Free2move will add more than 3.4 million customers to its 2 million users

AMSTERDAM, May 3, 2022 – Free2move announced today it has signed an agreement to acquire car sharing company Share Now, a joint venture formed by Mercedes-Benz Mobility Group and BMW Group 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.

In the demanding world of mobility, where users seek to optimize every minute, time is precious. Moving a customer is a great responsibility. Free2move has designed an innovative mobility service model that adapts to its customers. This solution, already operational in the United States and Europe, 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.

“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,” said Brigitte Courtehoux, Free2move CEO. “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.”

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.

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About Stellantis

Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) is one of the worlds leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and todays customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we lead the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit www.stellantis.com.

@StellantisStellantisStellantisStellantis
 

About Free2move

Free2move is the only global mobility brand offering a complete and unique ecosystem for its private and professional customers around the world. Relying on data and technology, Free2move puts the customer experience at the heart of the business to reinvent mobility. Free2move offers a range of services to satisfy the multiple travel needs of its customers from one minute to several days or months with car-sharing service, short, medium or long-term rental as well as the reservation of VTC drivers, parking spaces and charging stations via the app.
Free2move Mobility in figures worldwide: 2 million customers, 450,000 rental vehicles, 500,000 parking spaces, 250,000 charging points in Europe.
About SHARE NOW

As market leader and pioneer of free-floating car sharing, SHARE NOW is represented in 16 major European cities with around 10000 vehicles, including 3000 electric vehicles. About 3.4 million customers already use the service. SHARE NOW offers a sustainable solution for urban mobility and, as part of the mobility offer, contributes significantly to relieving traffic congestion in cities. Each car-sharing car replaces up to 20 private vehicles in urban traffic. SHARE NOW continues to expand its European market leadership in free-floating car-sharing. The mobility provider was founded in 2019 as a joint venture between BMW Group and Mercedes-Benz Mobility AG. It has its headquarters in Berlin.

 

 

For more information contact:

 

communications@stellantis.com
www.stellantis.com

 

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