On the Dash:
- Stellantis is considering the sale of Free2move to concentrate on its more profitable core markets, particularly in the U.S.
- This potential sale is still in its preliminary stages, and it’s not guaranteed that a deal will be finalized.
- Free2move reflects the challenges of scaling mobility services amid Stellantis’ portfolio shift.
Stellantis is considering selling its car-sharing unit Free2move as part of Chief Executive Officer Antonio Filosa’s efforts to restructure the automaker, people familiar with the matter said. Discussions with potential buyers are in the early stages, and no deal is guaranteed, the sources added.
The potential sale comes as Stellantis reviews its portfolio and industrial footprint, with a new business plan expected to be presented to investors in the first quarter of next year. Filosa, who took the helm in May, is seeking to exit unprofitable ventures and focus investments on core brands and markets, particularly in the United States, which has recently reported quarterly sales gains.
Free2move, launched in 2016 by the PSA Group before its merger with Fiat Chrysler to form Stellantis, offers car-sharing services in major European cities, including Paris, Madrid, Rome, and Amsterdam, as well as Washington, D.C., according to the company’s website. The unit was heavily promoted under former CEO Carlos Tavares, who aimed to expand globally, acquire BMW and Mercedes’ Share Now venture, and reach 15 million active users with 2.8 billion euros in net revenue.
Since Tavares’ departure, Stellantis has scaled back some EV ambitions and halted a hydrogen joint venture with Michelin and Forvia SE. Maserati and Alfa Romeo are undergoing a strategic review, although Maserati is not for sale.
Industry analysts say the move to sell Free2move reflects Stellantis’ pivot toward profitable markets and core operations, allowing the company to allocate resources more efficiently while reducing exposure to underperforming subsidiaries.
