Mercedes-Benz Mobility and BMW Group intend to sell their joint venture SHARE NOW to Stellantis. The three companies recently signed an agreement to this effect. It is also subject to the approval of the relevant antitrust authorities.

The sale of the car-sharing subsidiary contributes to the realignment of the mobility joint ventures. In the future, shareholders intend to concentrate on – digital multi-mobility (FREE NOW) and digital services related to the charging of electric vehicles (CHARGE NOW).

With the acquisition of SHARE NOW, Stellantis’ mobility subsidiary Free2move would have the opportunity to expand car sharing in Europe and thus meet the mobility needs of its customers.

Through its mobility brand Free2Move, Stellantis will acquire Share Now – a joint venture formed by the Mercedes-Benz Mobility Group and BMW Group centered around shared mobility. All three OEMs signed an agreement authorizing the transaction, which is subject to customary closing conditions, though the financial details around it have not yet been disclosed. 

Today, SHARE NOW allows customers in select cities to hire cars from the BMW, Mini, Mercedes-Benz, Smart, and Fiat brands for short- or long-term rentals through their smartphone. If the user wishes to extend their lease after the initial booking, they can do so without changing contracts while pricing adjusts automatically. Over the next decade, Stellantis plans to gradually replace SHARE NOW’s present fleet with vehicles from its own brand portfolio. This shift will take place in tandem with its existing plans to electrify its European vehicle fleet by 2030 and its U.S. fleet before 2035. 

For Stellantis, the acquisition will work to strengthen the operations of its mobility brand – providing Free2move with 10,000 new vehicles and expanding its reach to a further 14 cities across Europe. At the same time, the service will add more than 3.4 million new customers to its existing user base, with plans to expand this base globally to 15 million active users by the end of the decade. It will work similarly to support the mobility goals of the multinational’s Dare Forward 2030 strategy – through which it aims to boost Free2move’s net revenue to €700 million in 2025, and €2.8 billion in 2030. 

News of Free2move’s acquisition of SHARE NOW follows both its acquisition of Opel Rent, through which it aims to expand its presence in Germany and Austria, and its expansion in the U.S. In the region, the service is now available in Washington D.C.; Portland, Oregon; Denver, Colorado; Columbus, Ohio; and Austin, Texas. BMW and Mercedes-Benz have confirmed plans to continue their joint operation of Share Now’s software-focused sister services – including the multimodal mobility service Free Now, and its EV charging counterpart Charge Now. 

With the acquisition of SHARE NOW, Stellantis’ mobility subsidiary Free2move would have the opportunity to expand car sharing in Europe and thus meet the mobility needs of its customers.