Free to move Strengthens its leadership in the world at Mobility business by acquira job Share now
- A strategic step towards Stellantis Move Ahead 2030 The goal is to grow profitable mobility service
- The acquisition of Share Now will position Free2move as the leader in car sharing, adding 14 new European cities to Free2move’s existing seven mobility hubs in the US and Europe and enhancing technology expertise to exceed customer expectations
- Free2move is already a major player in the market mobility for B2B and B2C clients with a fleet of more than 450,000 vehicles offering car rental, car sharing and car subscription services, 500,000 parking spaces and a network of 250,000 charging stations.
- Free2move delivers a seamless 360-degree customer experience – navigate by minute, hour, day or month
- Free2move will add more than 3.4 million customers to 2 million users
Amsterdam, May 3, 2022 – Free2move announced today that it has signed an agreement to acquire car-sharing company Share Now, a joint venture established by Mercedes-Benz Mobility Group and BMW Group, in 2019. This proposed agreement positions Free2move as the world’s largest and leading mobility company, adding 14 European cities major and 10,000 vehicles to Free2move’s current car-sharing fleet of 2,500 vehicles.
In the world of demanding mobility, where users strive to improve every minute, time is precious. Moving the customer is a big responsibility. Free2move has designed an innovative mobility service model that adapts to its customers. This solution, which is already operational in the US and Europe, allows the customer to ride in the car for a few minutes or a few hours. If the customer wishes to have the car for a longer period, he can keep the same car without changing the contract – the price of Free2move is automatically adjusted.
“The strong integration of Share Now into major European cities will allow our customers to have greater access to a wide range of services to meet their diverse mobility needs,” said Brigitte Kurthuks, CEO of Free2move. Just as importantly, this acquisition will accelerate our earnings growth. We are now one step closer to achieving our goal of expanding Free2move’s worldwide presence to 15 million active users by 2030.”
By leveraging Free2moves’ financial discipline and ability to run a profitable business, this acquisition will enhance its economies of scale and synergies, contributing to dare forward 2030 The ambition to grow the profitable mobility service to a net revenue of €2.8 billion with a first step of €700 million in 2025.
Free2move recently announced its acquisition of Opel Rent, accelerating its growth strategy in Germany and Austria and driving the transition from rental to mobility provider. Meanwhile, it has accelerated its car-sharing expansion in the United States, with the service now available in Washington, D.C., Portland, Oregon, Denver, Colorado, Columbus, Ohio, Austin and Texas. Free2move also operates a car sharing service in Europe (Paris and Madrid).
Completion of the acquisition is subject to the usual closing conditions, including meeting antitrust requirements.
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Stellantis NV (NYSE / MTA / Euronext Paris: STLA) is one of the world“s leading automakers and mobility provider. that it Distinguished and distinguished brands embody the passion of their visionary founders today“S customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat and Jeep®Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we are leading the way the world moves – we aspire to become the largest sustainable mobility technology company, not the largest, while creating value for all our stakeholders as well as the communities in which we operate. For more information, visit www.stellantis.com.
| About Free2move
Free2move is the only global mobility brand that offers a complete and unique ecosystem to its private and professional customers around the world. Drawing 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 meet the multiple travel needs of its customers from one minute to several days or months with car sharing service, short term, medium or long term rental as well as booking VTC drivers, parking spaces and charging stations via the app.
As a market leader and pioneer in unmanned car sharing, SHARE NOW is represented in 16 major European cities with around 10,000 vehicles, including 3,000 electric vehicles. About 3.4 million customers are already using the service. SHARE NOW offers a sustainable urban mobility solution and, as part of its mobility offering, contributes significantly to easing urban traffic congestion. Each vehicle participating in the vehicle replaces up to 20 private vehicles in urban traffic. SHARE NOW continues to expand its European market leadership in floating car sharing. The mobility service provider was founded in 2019 as a joint venture between the BMW Group and Mercedes-Benz Mobility AG. It is headquartered in Berlin.
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