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BMW Group and Mercedes-Benz Mobility intend to sell their car-sharing joint venture SHARE NOW to Stellantis
03.05.2022 Press Release
Two strong pillars: BMW Group and Mercedes-Benz Mobility further develop mobility joint ventures in a targeted manner+++Strengthening multi-mobility: FREE NOW as the leading multi-mobility app in Europe will continue to grow+++The joint venture for electric charging services, CHARGE NOW, is planning further cooperations+++The mobility joint ventures had 30% more transactions in the first quarter of 2022 compared to the same quarter of the previous year+++
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Stuttgart/Munich, May 3, 2022. Mercedes-Benz Mobility and BMW Group intend to sell their joint venture SHARE NOW to Stellantis. The three companies recently signed an agreement to this effect and agreed not to disclose the details of the transaction. It is also subject to the approval of the relevant antitrust authorities.
The sale of the car-sharing subsidiary contributes to the realignment of the mobility joint ventures: In the future, shareholders intend to concentrate on two central business areas with high growth potential: digital multi-mobility (FREE NOW) and digital services related to the charging of electric vehicles (CHARGE NOW).
Gero Götzenberger, Director of Strategy and Investments at Mercedes-Benz Mobility: "We are proud to have founded the free-floating car sharing segment with car2go. Although Mercedes-Benz will focus more strongly on its core business in the luxury segment, car sharing will remain an important part of urban mobility and an essential element in the mobility offer at FREE NOW. With FREE NOW and CHARGE NOW, we are focusing on two growth segments that will continue to offer our customers the entire range of mobility services in the future and support the expansion of electric mobility."
Rainer Feurer, Head of Corporate Investments at the BMW Group, adds: "The mobility joint ventures have been pioneers in Europe – FREE NOW and CHARGE NOW have been very successful in building a software platform for as many players as possible in their respective segments. With the apps of FREE NOW and CHARGE NOW, we want to provide our customers with a comprehensive and wide range of digital services. The new orientation enables us to scale our activities faster and thus to achieve further profitable growth in the shortest possible time."
FREE NOW is a pioneer of multimodal mobility with its digital Mobility-as-a-Service platform - today the company offers access to almost 180,000 vehicles in over 150 cities in the FREE NOW app through its partner network. With one click users can reach the largest selection of vehicles in Europe, from e-scooters to e-bikes, e-mopeds and car sharing to taxis and chauffeured vehicles. FREE NOW thus meets the increasing desire of customers to be able to freely choose the best way from A to B with a mobility app. The increasing integration of public transport and the implementation of a mobility budget last year demonstrate the aimed growth perspective of the multimodal mobility app.
In 2021, FREE NOW recorded strong growth figures in the multimodal sector - i.e. e-scooters, e-bikes, e-mopeds and car sharing - and was able to almost triple the number of transactions compared to the previous year despite the pandemic. This year, FREE NOW is further expanding its multi-mobility offering - also in the field of car sharing: The vehicles of SIXT share, Miles and SHARE NOW can be booked via the app. A total of ten new mobility partners will be integrated on the platform in 2022, creating further mobility options for the current 56.8 million users. In the first quarter of 2022, FREE NOW's transactions grew by a total of 31.4% compared to the same quarter of the previous year, showing a strong growth trend.
The Digital Charging Solutions GmbH (DCS), which is behind the CHARGE NOW brand, brings together drivers of electric vehicles and charging station operators in 31 European countries. The market leader offers digital services as white label solutions, ranging from comprehensive access to the charging infrastructure of currently more than 300,000 charging points in Europe to complete billing. The DCS currently covers more than 85% of Europe's charging services - more than any other provider. With CHARGE NOW for Business, DCS also offers the leading software for the management of e-car fleets. The company is benefiting from the increasing demand for electric mobility. The entry of bp as the third shareholder in 2021 strengthens DCS to fully harness the further growth potential. The cooperation agreement with HERE, the platform for location-based data and technology, in the first quarter of 2022 as well as the partnership with smart and ABB-E-Mobility before the premiere of the all-electric smart #1 underline the strong momentum of DCS.
In the first three months of the year, the mobility joint ventures have consistently developed their products and involved other partners. At 42.3 million, transactions were almost 30% higher than in the prior-year quarter (32.6 million).
Expansion of SHARE NOW into the leading car sharing provider in Europe
SHARE NOW was established in 2019 by the pioneers of free-floating car sharing and combines the DNA of car2go, which was developed by the former Daimler AG, and DriveNow, the BMW Group's offering. Together, both shareholders have developed SHARE NOW into the market leader in Europe and continuously developed it further, including new offers such as long-term car sharing.
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.
Mercedes-Benz Mobility AG:
Michael Kuhn, +49 160 861 4768, email@example.com
Dr. Britta Ullrich, +49 151 601 18 364, firstname.lastname@example.org
Further information on Mercedes-Benz Mobility is available
group-media.mercedes-benz.com and www.mercedes-benz-mobility.com/en/media-site/
Mercedes-Benz Mobility at a glance
With around 10,000 employees, Mercedes-Benz Mobility AG specialises in financial and mobility services. The products range from financing, leasing, vehicle subscriptions, rental and fleet management to digital services for charging and payments, as well as insurance and innovative mobility services. Mercedes-Benz Mobility is a division of Mercedes-Benz Group AG, which also includes the vehicle manufacturer Mercedes-Benz AG, one of the largest suppliers of premium and luxury passenger cars and vans. Mercedes-Benz Group AG is one of the most successful automotive companies in the world. As a financial services provider, Mercedes-Benz Mobility supports sales of the Mercedes-Benz Group's automotive brands worldwide. In Germany, Mercedes-Benz Bank AG, as part of Mercedes-Benz Mobility AG is one of the leading vehicle financing banks and offers around one million customers financial flexibility. Flexible mobility offers such as Mercedes-Benz Rent or EQ subscription, enable an uncomplicated and flexible entry into e-mobility, complementing the service portfolio. With its subsidiary Athlon, Mercedes-Benz Mobility is present in Europe in operational fleet management and vehicle leasing and is responsible for around 400,000 vehicles. In addition, Mercedes-Benz Mobility investments in the market for urban mobility services: The joint ventures FREE NOW, REACH NOW, SHARE NOW and CHARGE NOW combine solutions for ride-hailing and multi-modal mobility, car sharing and electric vehicle charging. At the same time, the portfolio also includes StarRides – a limousine transport service joint venture in China – and the participation in the Berlin chauffeur service Blacklane. In 2021, Mercedes-Benz Mobility financed or leased around every second of the Mercedes-Benz Group's vehicles sold worldwide. This corresponds to a contract volume of 133.7 billion €. The business segment generated sales of 27.9 billion € in 2021 and achieved an EBIT adjusted of 3.4 billion €. Mercedes-Benz Mobility operates in 36 countries.
The BMW Group
With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is the world’s leading premium manufacturer of automobiles and motorcycles and also provides premium financial and mobility services. The BMW Group production network comprises 31 production and assembly facilities in 15 countries; the company has a global sales network in more than 140 countries.
In 2021, the BMW Group sold over 2.5 million passenger vehicles and more than 194,000 motorcycles worldwide. The profit before tax in the financial year 2021 was € 16.1 billion on revenues amounting to € 111.2 billion. As of 31 December 2021, the BMW Group had a workforce of 118,909 employees. The success of the BMW Group has always been based on long-term thinking and responsible action.
The company set the course for the future at an early stage and consistently makes sustainability and efficient resource management central to its strategic direction, from the supply chain through production to the end of the use phase of all products.