Stellantis has agreed to purchase the Share Now car-sharing business from BMW and Mercedes-Benz as the two German companies concentrate more on the software part of their mobility alliance.
Stellantis aims to become a global leader in car-sharing, and with this acquisition announced on Tuesday, it will boost its existing business in the area.
No financial details have been provided for the transaction.
According to the Italian daily la Repubblica, it was worth around 100 million euros ($105.28 million).
Brigitte Courtehoux, the head of Stellantis’ mobility division Free2move, said the deal was part of the group’s strategies to increase net revenues of that business to 700 million euros in 2025 and to 2.8 billion euros in 2030.
“We will really accelerate in terms of revenues,” Courtehoux added.
