Status: 03.05.2022 09:47
BMW and Mercedes-Benz are selling their joint car-sharing subsidiary “Share Now” to the Franco-Italian automobile group Stellantis. Thanks to 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 rival Stellantis. The two German automakers announced that a statement of intent had 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 had long been speculated.
The “Your Now” joint venture is not very successful
BMW and Mercedes-Benz merged their mobility services business in 2019 to form the “Your Now” joint venture. These include car-sharing service provider Share Now, taxi and ride-sharing agency Free Now and charging station platform Charge Now. The same year, the company announced that it would exit 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 now focus more on carpooling and charging station brokers. With the “Free Now” app, users can combine different means of transport, from e-bikes 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.