Carmaker stellantis said it would acquire share now, a car sharing company jointly owned by BMW Group and Mercedes Benz, in a move aimed at tapping new sources of revenue. The specific financial terms of the transaction have not been disclosed and are still subject to the approval of the antitrust authority.
It is reported that share now is a global car sharing company, which was established in 2019. Share now plans to use a global car sharing application to create a complete set of comprehensive mobile travel services. Share now provides car sharing services in 16 cities in Europe, with about 3.4 million customers.
Share now is an important part of the joint venture between BMW and Mercedes Benz. The other four mobile travel joint ventures include reachnow, Chargenow, freenow and parknow.
Stellantis will make the acquisition through its mobile service brand free2move, which provides app based parking, leasing and leasing services to about 2 million of its customers. Stellantis plans to expand free2move's business globally in the next decade, bringing its active users to 15 million and net revenue to 2.8 billion euros ($2.94 billion).
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