How Stellantis will accelerate on sharing
All the consequences of the acquisition of Share Now by Free2Move, a technology company of the Stellantis group. The article by Carlo Terzano
Free2Move, a technology company specializing in mobility of the Stellantis group, created in 2016, acquired the car sharing company Share Now , established in 2019 from the merger of car2go and DriveNow, a joint venture created by BMW Group and Mercedes-Benz Mobility. "The strong positioning in major European cities will allow our customers to have access to a wider range of services to meet their different mobility needs," Brigitte Courtehoux , CEO of Free2move, said on the sidelines of the press announcement.
THE POSITIONING OF SHARE NOW
The agreement allows Stellantis' sharing mobility division, which today has over 2 million users, 450,000 rental vehicles, 500,000 parking spaces, 250,000 charging points in Europe, to add 14 European cities and more than 10,000 cars to the Free2move's car sharing fleet of 2,500 vehicles.
Only in Berlin, where the joint venture led by Olivier Reppert is located, in the iconic Kaufhaus Jandorf building, on the corner of Brunnenstrasse and Veteranenstrasse, does Share Now have a fleet of 1,800 cars, making it the European city that oversees with more attention.
The second, however, is not located in Germany, but in Italy, in Milan: 1400 cars. Dusseldorf and Hamburg follow with 1100 vehicles. Also important is the presence in Austria, with 1000 cars in Vienna, France (700), Spain and again in Italy (600 cars in Rome and Madrid), the Netherlands and Denmark.
STRENGTHENING IN CONTINENTAL EUROPE
Recently, again with the aim of strengthening its position in continental Europe, Free2move also acquired Opel Rent, previously owned by Techno Einkauf GmbH and Verband deutscher Opelhändler (VDOH) Wirtschaftsdienst GmbH. Opel Rent is in fact present in Germany and Austria with a network of 1000 agencies.
In addition, Stellantis also entered into a collaboration with Engie Eps which led to the birth of Free2Move eSolutions, a joint that aims to facilitate the transition to electric mobility by offering innovative electric solutions.
After all, all this is largely part of the strategic plan Dare Forward 2030 , which plans to grow its mobility services up to net revenues of 2.8 billion euros, with a first step of 700 million euros in 2025.
GIVING FORWARD 2030 IN BRIEF
We recall that, globally and in all sectors, the Group aims to achieve, by 2030, 100% of sales with battery vehicles in Europe and 50% in the United States. Stellantis intends to double net revenues to 300 billion euros by 2030. The group also aims to sustain an operating margin between 10% and 12% for the entire period of the plan, also thanks to a "breakeven point less than 50% of deliveries "and" maximizing shareholder value ", paying dividends equal to 25/30% of profits up to 2025 and repurchasing up to 5% of the ordinary shares in circulation, net of capital expenses and for Research & Development equal to approximately 8% of turnover. Stellantis aims to generate more than 20 billion in industrial free cash flows in 2030, achieve 5 billion annual cash synergies by the end of 2024 and target more than in the past in the premium and luxury vehicle segments: revenues will increase fourfold.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/smartcity/stellantis-free2move-share-now/ on Tue, 03 May 2022 13:20:18 +0000.