Stellantis Acquires Car Sharing Company Share Now For Undisclosed Sum

• Stellantis NV (NYSE:STLA) said its mobility division, Free2move, has agreed to acquire car sharing company Share Now. The financial terms of the deal were not disclosed.
• Share Now was formed as a joint venture by Mercedes-Benz Mobility Group and Bayerische Motoren Werke AG (OTC:BMWYY) in 2019.
• The deal is expected to add 14 major European cities and 10,000 vehicles to Free2move’s existing car-sharing fleet of 2,500 vehicles.
• The acquisition will add to Stellantis’ Dare Forward 2030 goal of growing the profitable mobility service to net revenues of €2.8 billion with the first step of €700 million revenues in 2025.
• Stellantis held €49.6 billion in cash and equivalents as of December 31, 2021.
• Price Action: STLA shares are trading higher by 0.52% at $13.47 in premarket on the last check Tuesday.