The car-sharing mobility startup within the maker of Jeep will more than double in size, adding 14 European cities mostly in Germany to its service territory with the acquisition of ShareNow from the BMW and Mercedes-Benz groups, the company announced Tuesday.
Details of the deal, which is subject to antitrust reviews, weren't disclosed. The acquisition by Stellantis NV's Free2move of the free-floating car-sharing service, which is expected to close in September, marks the brand's largest step to growing its operations since its inception in 2016.
It will help to accelerate the expansion of Free2move services offering vehicle rentals by the minute, day or month, including in the United States, said Brigitte Courtehoux, the startup's CEO.
