Stellantis buys car-sharing business from BMW, Mercedes
FRANKFURT/MILAN, May 3 (Reuters) – Stellantis (STLA.MI) has agreed to buy the Share Now car sharing business from BMW (BMWG.DE) and Mercedes-Benz (MBGn.DE) as the two German groups focus on the software part of their mobility alliance.
Formed last year through the merger of Fiat Chrysler and Peugeot maker PSA, Stellantis wants to position itself as a global leader in car-sharing, using this step announced on Tuesday to expand its existing business in the area.
The deal reflects different approaches by carmakers who are trying to tap new sources of revenues beyond selling vehicles, most notably in the developing area of mobility services.
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Brigitte Courtehoux, who heads Stellantis’ mobility division Free2move, said the deal was part of the group’s plans to grow net revenues of that business to 700 million euros ($735 million) in 2025 and to 2.8 billion euros in 2030.
“We will…
