Status: 03.05.2022 09:47
BMW and Mercedes-Benz are selling their “Share Now” car-sharing subsidiary to the Franco-Italian automotive group Stellantis. Through the sale they want to have more funds for other projects.
BMW and Mercedes-Benz want to sell their car sharing service called “Share Now” to their competitor Stellantis. The two German carmakers announced that they have recently signed a declaration of intent. 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 had been assumed for some time.
The “Your Now” joint venture is not very successful
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. The “Reach Now” mobility app has been discontinued.
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 modes 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.