Stellantis Agrees to Sell Free2move Car-Sharing Division to German Private Equity Firm Mutares
Stellantis has entered into an agreement to sell its entire stake in the car-sharing business, Free2move, to German private equity firm Mutares. The deal is expected to close by year-end, pending regulatory approvals and other customary conditions. Free2move operates free-floating fleets across Europe and the US in 14 cities and was established in 2016. The divestiture aligns with Stellantis' FaSTLAne 2030 strategy, which emphasizes disciplined capital allocation toward high-return areas such as electric vehicles. Mutares plans to restructure Free2move's operations, accelerate the transition to battery-electric fleets, and enhance customer experience in urban mobility solutions. Stellantis CEO Antonio Filosa is leading a broader turnaround effort amid declining market share in key regions like Europe and North America. The company also recently announced its E-Car project targeting affordable electric vehicles for 2028.
Topics: automotive car-sharing private equity strategic restructuring