BMW, Mercedes-Benz to Sell Car-Sharing Joint Venture to Stellantis
03 May 2022 - 4:31PM
Dow Jones News
By Kim Richters
BMW AG and Mercedes-Benz Group AG said Tuesday that they have
agreed to sell their car-sharing joint venture Share Now to
Stellantis NV.
The two German car makers didn't disclose financial terms of the
deal, which is subject to antitrust authorities' approval.
BMW and Mercedes-Benz, which was called Daimler at the time,
created the car-sharing venture in 2019. They now plan to further
develop their joint ventures Free Now, which is a mobility app, and
Charge Now, which offers electric-charging services.
"With the acquisition of Share Now, Stellantis' mobility
subsidiary Free2move would have the opportunity to further expand
car sharing in Europe and thus meet the diverse mobility needs of
its customers," the German companies said in a joint release.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
May 03, 2022 02:16 ET (06:16 GMT)
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