Stellantis has agreed to sell its Free2move car-sharing unit to German investment company Mutares, the carmaker said on Tuesday, as CEO Antonio Filosa continues efforts to sharpen the group\u2019s focus on its core vehicle production.<\/p>\n
In May the French-Italian carmaker unveiled its long-term business plan promising: <\/p>\n
more disciplined capital allocation; a stronger focus on core automotive activities; and partnerships in manufacturing and technology.<\/p>\n
The deal, for which financial terms were not disclosed, is expected to close by the end of the year.<\/p>\n
Free2move offers short- and long-term free-floating car-sharing services through fleets across 14 cities in Europe and the US.<\/p>\n
\u201cBy sharpening our focus on core automotive activities, we strengthen our capacity to deliver long-term performance,\u201d Stellantis\u2019s head of business development and partnerships, Virgilio Cerutti, said in a statement.<\/p>\n
Created by Peugeot maker PSA in 2016 before its merger with Fiat Chrysler, Free2move was part of former CEO Carlos Tavares\u2019s push into mobility services beyond vehicle manufacturing.<\/p>\n
After Stellantis was formed in 2021, the business continued to operate alongside the group\u2019s leasing and mobility activities.<\/p>\n
Munich-based Mutares said the acquisition would establish a new platform in the mobility sector and that it intends to continue developing the business, including its transition to battery-electric vehicles.<\/p>\n
Reuters<\/p>\n","protected":false},"excerpt":{"rendered":"Stellantis has agreed to sell its Free2move car-sharing unit to German investment company Mutares, the carmaker said on…\n","protected":false},"author":2,"featured_media":57948,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13129],"tags":[13712,36392,36391,12112],"class_list":["post-57947","post","type-post","status-publish","format-standard","has-post-thumbnail","category-stellantis","tag-antonio-filosa","tag-car-sharing","tag-free2move","tag-stellantis"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/posts\/57947","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/comments?post=57947"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/posts\/57947\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/media\/57948"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/media?parent=57947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/categories?post=57947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/tags?post=57947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}