Business

BMW and Mercedes sell their car sharing service to Stellantis

B.MW and Mercedes-Benz want to sell their car sharing service called “Share Now” to their competitor Stellantis. The two German auto groups announced on Tuesday that a declaration of intent has recently been signed. It was agreed not to disclose any details. Stellantis, the parent company of brands such as Fiat, Chrysler, Peugeot and Opel, can expand the range of its mobility subsidiary Free2move with the acquisition. Antitrust authorities have yet to approve the sale.

“Share Now” is Europe’s largest station-independent car sharing provider. The company is represented in 16 European cities with around 11,000 vehicles and claims to have around 3.4 million customers. A sale has been assumed for some time.

BMW and Mercedes-Benz joined their mobility services businesses in 2019 to form the “Your Now” joint venture. These include the car sharing service provider Share Now, the taxi and ridesharing agency Free Now and the charging station platform Charge Now. Later that year, the company announced it would be leaving the North American business. In March 2021, the two partners sold the “Park Now” parking app to Swedish competitor Easypark. Reach Now mobility app has been retired.

The sale of “Share Now” allows Mercedes-Benz and BMW to focus more on ride-sharing brokers and charging stations. With the “Free Now” app, users can combine different means of transport, from electric bicycles to car sharing cars.

Local public transport is also increasingly integrated. “Charge Now” brings together electric car drivers and charging station operators and, according to the company, now covers 85% of charging offers in Europe.

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