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Daimler Buys Out Partner in Car2Go Car-Share Service
Daimler AG says it will take full ownership of its Car2Go car-sharing service by acquiring the 25% stake held by French rental car company Europcar Group.
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Daimler AG says it will take full ownership of its Car2Go car-sharing service by acquiring the 25% stake held by French rental car company Europcar Group.
The €70 million ($86 million) deal will enable Car2Go to merge with BMW AG’s similar DriveNow service. In January BMW took a similar step, buying out German car rental operator Sixt SE as its DriveNow partner.
The widely expected merger of Car2Go and DriveNow would help both companies compete in the anticipated market for driverless shuttle services.
DriveNow, which launched in 2011, serves 1 million customers in Europe. Car2Go, which began a year later, boasts more than 3 million users in China, Europe and North America.
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