Stellantis is divesting from its car-sharing business in Europe and the U.S. as it refocuses on its core vehicle manufacturing business.
The company made the announcement of an agreement for the sale of its entire shareholding in the Free2move car-sharing business to with Mutares SE & Co., in its July 28 statement.
The transaction is expected to conclude by the end of 2026 and is subject to customary closing conditions.
Free2Move was launched in 2016 by PSA Peugeot-Citroën Group as a mobility and car-sharing platform. The service was launched in the U.S. in 2017 as a potential pathway for a market entrance of the Peugeot brand.
After PSA Group merged with Fiat Chrysler Automobiles in 2021, the model changed significantly to include a Free2Move Charge brand extending to EV charging and energy—the brand Stellantis still applies today for its U.S.-market Dodge, Jeep and Fiat EVs.
Stellantis said the deal aligns with its business strategy set out in Stellantis’ FaSTLAne 2030 plan unveiled in May. This strategy focuses on improving profitability of its key vehicle brands and involves an investment of $70 billion.
Currently Free2move offers short- and long-term free-floating car-sharing, bookable 24/7 through a proprietary mobile app. It operates with fleets across 14 cities in Europe and the U.S.
Mutares will establish a new platform in the mobility sector and plans include the revamped management of its international fleet, continued transition to battery-electric vehicles and renewed attention to customer experience and the urban mobility needs of municipalities, per the release.
“By sharpening our focus on core automotive activities, we strengthen our capacity to deliver long-term performance,” said Virgilio Cerutti, head of business development and partnerships at Stellantis. “We are committed to working closely with all stakeholders to support a smooth transition process for customers, partners and employees,” he added.
