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Stellantis buys car-sharing business as BMW, Mercedes take different route

  • Stellantis to add 3.4 million car sharing customers
  • Stellantis aims to increase mobility service revenue
  • BMW, Mercedes JV retreated from the North America in 2019

FRANKFURT/MILAN, May 3 (Reuters) – Stellantis (STLA.MI) has agreed to buy the Share Now car sharing business from BMW (BMWG.DE) and Mercedes-Benz (MBGn.DE) as the two German groups focus more on the software part of their mobility alliance.

Formed last year through the merger of Fiat Chrysler and Peugeot maker PSA, Stellantis wants to become a global leader in car-sharing, using this acquisition announced on Tuesday to expand its existing business in the area.

The deal reflects different approaches by carmakers who are trying to tap new sources of revenues beyond selling vehicles, most notably in the developing area of mobility services.

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“We think this reinforces our belief that premium OEMs (manufacturers) like BMW…

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