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Stellantis to buy car-sharing business of BMW, Mercedes

US-European carmaker Stellantis said Tuesday it has agreed to purchase Share Now, a joint venture between German giants BMW and Mercedes, steering it closer towards its goal of becoming a world leader in car sharing.

Stellantis said in a statement that, pending the customary regulatory clearance, its own car-sharing division, Free2move — which had recently acquired Opel Rent in Germany and Austria — would buy Share Now for an undisclosed sum.

The proposed agreement would “further position Free2move as the leading global mobility player, adding 14 major European cities and 10,000 vehicles to Free2move’s existing car-sharing fleet of 2,500 vehicles,” the statement said.

The deal would also “add more than 3.4 million customers to (Free2move’s) two million users,” it said.

“This acquisition will… accelerate our profitable growth. We are now a step closer to achieving our goal of expanding Free2move’s worldwide presence to 15 million active users by 2030,” said Free2move chief executive Brigitte Courtehoux.

Free2move said it was also aiming to achieve revenues of 700 million euros ($735 million) in 2025 and then of 2.8 billion euros by 2030.

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