Share Now is a joint venture between Mercedes-Benz and BMW in the car sharing sector. Interested parties only need to find a vehicle parking location to get a loan car as needed, through the application.
According to a Reuters report on Tuesday (3/5/2022), Share Now is now being sold to Stellantis. While the price was not disclosed to the public.
The sale of Share Now was preceded by the company’s withdrawal from the car sharing market in North America in 2019. The reason was high maintenance costs.
The sale of Share Now to Stellantis also shows the challenges faced by the automotive industry in utilizing new sources of income outside of car sales. Especially in the field of mobility services, which are currently developing.
The acquisition of Share Now will later help Stellantis improve its position as a global leader in shared mobility efforts.
Share Now has around 11,000 cars and is active in 16 major European cities, and has 3.4 million subscribers. Stellantis itself already has a mobility service called Free2Move which was founded in 2016.
After selling Share Now, BMW and Mercedes-Benz still have two areas of cooperation as the business focus of both parties. Namely Free Now, an application for ordering cars, taxis, e-scooters, and e-bikes. As well as Charge Now, a charger ordering app.
“This allowed us to scale up our activities more quickly and achieve further profitable growth in the shortest possible time,” said Rainer Feurer, Head of Corporate Investments at BMW.