Free2move Reinforces its Worldwide Leadership in Mobility Business by Acquiring Share Now
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. At Free2move, we have designed an innovative mobility service model that adapts to our customers. This solution, already operational in the United States and Europe, allows 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.
TravelCar Changes Its Name and Becomes Free2Move, Initiating a New Phase to Accelerate Its Development.
Founded in 2012, TravelCar is revolutionizing mobility for travelers. Agile and dynamic, TravelCar has quickly become the worldwide leader for parking solution due to its unique and innovative booking platform which allows users to search and book parking options at airports, train stations, seaports, and city-centers. Travelers looking for parking can easily compare prices, view locations on a map, read reviews and more in order to choose the offer best for them. In addition to traditional paid parking offers, TravelCar also developed a sustainable and eco-responsible parking solution allowing car owners to save money on parking fees by renting out their car to other travelers while they are away. Available in 30 languages and with a strong network of 5,000 plus partners, TravelCar has more than one million active users and continues to grow since its acquisition by PSA Group. www.travelcar.com. In 2020 TravelCar Changes Its Name and Becomes Free2Move, Initiating a New Phase to Accelerate Its Development.
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.
Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) is one of the world’s leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today’s 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.
About SHARE NOW
As market leader and pioneer of free-floating 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 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.
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