Stellantis Acquires Car Sharing Company Share Now For Undisclosed Sum

by Shivani Kumaresan, Benzinga Staff Writer

May 3, 2022 6:54 AM | 1 min read |

Stellantis NV STLA said its mobility division, Free2move, has agreed to acquire car sharing company Share Now. The financial terms of the deal were not disclosed.
Share Now was formed as a joint venture by Mercedes-Benz Mobility Group and Bayerische Motoren Werke AG BMWYY in 2019.
The deal is expected to add 14 major European cities and 10,000 vehicles to Free2move’s existing car-sharing fleet of 2,500 vehicles.
The acquisition will add to Stellantis’ Dare Forward 2030 goal of growing the profitable mobility service to net revenues of €2.8 billion with the first step of €700 million revenues in 2025.
Stellantis held €49.6 billion in cash and equivalents as of December 31, 2021.
Price Action: STLA shares are trading higher by 0.52% at $13.47 in premarket on the last check Tuesday.

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