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Groupe PSA strengthens its position with acquisition of TravelCar

Auto News - Published on Mon, 11 Feb 2019

Image Source: Business Wire
Two years after its equity investment in the start-up, Groupe PSA is strengthening its expertise and reaffirming its strategy in new mobility solutions by acquiring TravelCar. TravelCar offers parking and car rental solutions. With 5,000 partner car parks and tens of thousands of cars available for rental, it has already attracted more than a million users in more than 60 countries. Its services are available via a single digital platform. This new phase will enable TravelCar to speed up the dissemination and optimisation of its services. The TravelCar team will bring its agility and expertise to the Group and benefit from the significant opportunities and synergies generated with the Group’s other operations.

Mr Brigitte Courtehoux, Senior Vice President, Connected Services and New Mobility Solutions at Groupe PSA said that “With a million users, TravelCar is a major success. Through this acquisition, we are stepping up our support for the company and demonstrating our commitment to developing an efficient, sustainable mobility services ecosystem.”

TravelCar’s founder, Ahmed Mhiri said that “We are proud and delighted to be able to write the next chapter of the company’s history with Groupe PSA and all of the TravelCar teams. We’re also very excited about working on the many innovative solutions that such an alliance will enable us to offer our users.”

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Posted By : Joykumar Irom on Mon, 11 Feb 2019
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