Stellantis is divesting its carsharing business and selling the Free2move division to Munich-based investment company Mutares, which plans to deploy more EVs. The transaction is part of the automotive group’s strategic realignment and is expected to be completed by the end of 2026.
Stellantis and Mutares have signed an agreement for the complete acquisition of Free2move. The carsharing business currently operates free-floating services in 14 major cities across Europe and the United States, accessible 24/7 via its dedicated app.
In Germany, the service is available in Berlin, Munich, Cologne, Hamburg, Frankfurt, Stuttgart, and Düsseldorf. In 2024, Share Now was integrated into Free2move, which in turn emerged in 2019 from the merger of BMW’s carsharing service Drive Now and Daimler’s equivalent, Car2Go.
The sale aligns with Stellantis’ disciplined financial management approach, as outlined in its ‘FaSTLAne 2030‘ strategic plan. The group is refocusing its financial resources on its core automotive business, as well as high-margin key regions and technologies. Through this move, the multi-brand manufacturer aims to streamline its portfolio and reduce operational complexities in the mobility services sector.
“By sharpening our focus on core automotive activities, we strengthen our capacity to deliver long-term performance,” said Virgilio Cerutti, Head of Business Development & Partnerships at Stellantis. The company is working closely with all stakeholders to ensure a smooth transition for customers, partners, and employees.
Independent platform
Specialist private equity investor Mutares now plans to reposition Free2move as an independent platform in the mobility sector. Key priorities for future development include more efficient management of the international vehicle fleet, further electrification of the fleet, and enhanced operational flexibility. According to Mutares, targeted investments are intended to bolster competitiveness in a challenging market environment,
“Free2move’s car-sharing business combines a strong, internationally recognized brand with clear potential for operational improvement following an intended carve-out from Stellantis,” explained Johannes Laumann, CIO of Mutares. Together, they aim to strengthen the business model and establish the company as an independent platform.
Mutares is no stranger to the electromobility sector: in 2023, the Munich-based firm acquired Efacec, a Portuguese manufacturer of charging infrastructure. Its portfolio also includes highly specialized automotive suppliers, such as the FerrAl United Group based in Frankfurt am Main, which supplies forged parts, cast components, and machined assemblies to OEMs worldwide.
The completion of the Free2move acquisition by Mutares remains subject to customary regulatory approvals and consultation processes with employee representatives.
‘Abandon ship’
With this move, Stellantis must be one of the last OEMs to withdraw from all sorts of mobility initiatives, in this case car-sharing. In view of the last, turbulent financial years of the manufacturing group, this comes as no surprise, as the new CEO, Antonio Filosa, wanted to make a clean sweep after the reign of its predecessor, Carlos Tavares.
It’s a recurring phenomenon in the car business: when everything goes well, car manufacturers want to diversify their business, and when the business gets tight, they want to refocus on their core business: producing and selling cars with the highest profit margins.
One of the most telling examples was Volvo, some decades ago, investing in supermarkets in Sweden and abroad, quickly reselling its stake when the car market got tougher. One would say that mobility initiatives are much more relevant for car companies to invest in, but once again it has become clear that their CEOs don’t have the patience, nor probably the expertise, to succeed in a still developing sector with many obstacles.
