Daimler purchases Europcar Group's 25% stake in car2go

Daimler Mobility Services will acquire the 25% stake in car2go Europe from joint venture partner Europcar Group.

The acquisition means that following approval of the transaction by the relevant authorities, 100% of the car2go Europe shares are in the hands of Daimler Mobility Services. In 2012, car2go Europe was created as a joint-venture, owned 75% by Daimler and 25% by Europcar. Today, car2go Group is present in Europe, North America and China, and has more than 3 million users worldwide.

"Over the course of the last several months, we have intensified our investments in mobility services in order to create a holistic mobility system with a broad portfolio. As part of this strategy, we decided to fully acquire the remaining shares in car2go Europe," stated Daimler's Head of Mobility Services Jörg Lamparter. "We want to thank Europcar for their great support as we went from a car sharing start up to the leading car sharing company in the world," Lamparter continued.

Daimler is poised to further expand its mobility portfolio

Daimler Mobility Services is poised to further expand its mobility portfolio, expand its customer base and enhance the customer experience through bundled mobility products. With the customer insights gained through 24 million rentals for both combustion engines and electric cars alone in 2017, car2go has laid the ground work for Daimler's CASE strategy as the company shifts to a fully connected, autonomous, shared and electric vehicle portfolio. Today, car2go has algorithms which predict mobility demand and the fleets are strategically moved to optimise maximum usage and meet demand. The goal is to develop the required expertise and resources so that we are a leader in the future business with self-driving cars.

"I want to thank Europcar for their collaboration in supporting car2go's expansion across Europe. We have collectively transformed car sharing from a trend to a lifestyle and have created a mobility community," stated Olivier Reppert, CEO car2go Group.

Caroline Parot, Europcar Group's Chief Executive Officer, stated: "We want to thank the Daimler Group for our longstanding partnership since 2012 within car2go Europe. This investment has taught us a great deal about car sharing."