Free2move has announced that it has signed an agreement to acquire the car-sharing company Share Now, the joint venture established in 2019 by BMW Group and Mercedes-Benz Mobility. This agreement further strengthens Free2Move’s position as a leading player in global mobility by adding 14 major European cities with more than 10,000 cars to Free2move’s 2,500-vehicle car-sharing fleet.
In the demanding world of mobility, where users try to optimize every minute, time is precious. Moving a customer is a big responsibility. In Free2move we have designed an innovative service model for mobility that adapts to consumers. This solution, already operational in the United States and Europe, allows the customer to take a car for a few minutes or hours. If a customer wants the vehicle for longer, he can keep the same car without changing the contract – Free2move’s price adjusts automatically.
“The integration of Share Now’s strong positioning in major European cities will allow our customers to have access to a wider range of services to meet their different mobility needs,” said Brigitte Courtehoux, CEO of Free2move. equally important that this acquisition accelerates our growth in terms of profit. We are now closer to reaching our goal of expanding Free2move’s presence around the world, reaching 15 million active users by 2030. ”
Leveraging Free2move’s financial discipline and ability to run a profitable business, this acquisition will further improve its economies of scale and synergies, contributing to the Dare Forward 2030 ambition to grow its mobility services to net revenues. of €2.8 billion ($2.9 billion) – with the first step of €700 million ($736 million) in 2025.
Free2move recently announced the acquisition of Opel Rent, accelerating the growth strategy in Germany and Austria and pushing 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 DC, Portland, Oregon, Denver, Colorado, Columbus, Ohio, and Austin, Texas. Free2move also manages car sharing in Europe (Paris and Madrid).
The term of the acquisition is subject to customary closing conditions, including compliance with antitrust requirements.