Mutares Free2move acquisition to carve out Stellantis car-sharing unit

Mutares has agreed to acquire Stellantis’ entire stake in Free2move’s car-sharing business, a transaction that would create a new mobility platform for the private equity firm. The Mutares Free2move acquisition is expected to close by the end of 2026, subject to employee consultation processes, regulatory approvals and other customary conditions, according to PE Hub, citing a press statement.

The deal covers Free2move’s car-sharing operations, which provide short- and long-term free-floating vehicle access through a proprietary mobile application. Free2move runs fleets in 14 cities across Europe and the US, making it one of the more geographically diversified car-sharing platforms, according to the statement cited by PE Hub.

No purchase price, financing details or revenue figures were disclosed in the reported announcement. Stellantis is selling its entire stake in the car-sharing business, while Mutares plans to operate the unit as an independent company after completion.

What is Mutares buying from Stellantis?

Mutares is buying Free2move’s car-sharing business, rather than a broader Stellantis automotive manufacturing asset. The business offers app-based access to shared vehicles for short and longer periods, with fleets spread across cities in both Europe and the United States.

Car-sharing platforms typically sit between public transport, taxis, ride-hailing and traditional rental cars. In Free2move’s case, the statement described a free-floating service, meaning the business is structured around flexible access to vehicles booked through its own mobile app.

For Stellantis, the agreement would separate the car-sharing activity from the automotive group once the transaction closes. For Mutares, the acquisition would establish a platform in the mobility sector, adding an operating business whose performance will depend on fleet utilisation, vehicle costs, city-level demand and the pace of electrification.

How Mutares plans to change Free2move

Mutares’ stated plan includes a revamp of Free2move’s international fleet management, continued movement toward battery-electric vehicles and renewed attention to customer experience. The firm also intends to focus on the urban mobility needs of municipalities, according to the statement cited by PE Hub.

Fleet management is central to the economics of car-sharing because vehicles must be available where customers need them while controlling maintenance, charging, insurance and depreciation costs. The planned shift toward battery-electric vehicles also links the business to charging access and city transport policy, especially in urban markets where emissions rules are tightening.

Free2move is expected to operate independently under Mutares ownership. The statement said the business should benefit from greater agility, dedicated investment and more operational flexibility as a standalone entity.

The closing timeline leaves a long period before ownership changes. Completion is expected by the end of 2026 and remains conditional on information and consultation with employee representative bodies, regulatory clearances and other standard closing requirements.

Until those steps are completed, the agreement remains pending. The reported announcement did not include details on management changes, specific cities affected, the size of the fleet or the terms of any commercial relationship between Free2move and Stellantis after closing.

This story draws on original reporting from PE Hub.