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Stellantis to Buy Mercedes-BMW Car-Sharing Venture

Stellantis NV will acquire the Share Now car-sharing venture formed by BMW AG and Mercedes-Benz AG, the latest shakeup in the industry as automakers struggle to make mobility services profitable.

Stellantis’s Free2Move mobility brand didn’t disclose a price for buying the service, which has around 3.4 million customers in 16 European cities. The move is aimed at boosting new streams of revenue as the automaker shifts to electric vehicles.

The sale marks another step in reshaping mobility offerings for BMW and Mercedes, which combined their respective services in 2018 to take on providers like Uber Technologies Inc. and save costs. The German automakers’ decision to ditch the car-sharing service underscores the challenges faced in making such offerings profitable without the requisite scale.

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