Lyft acquires FreeNow from BMW/Mercedes to expand in Europe with competition and regulatory challenges.

From Yahoo Finance: 2025-04-16 07:36:00

Lyft is acquiring FreeNow from BMW and Mercedes-Benz for 175 million euros to expand into the European ride-hailing market, nearly doubling its potential market. The move will open doors to major European cities like London and Paris, where FreeNow offers taxi, e-scooter, and car-sharing services. FreeNow operates in over 150 cities across nine European countries and achieved break-even status in 2024. Lyft CEO David Risher sees this as a strategic move at a good price and time. However, competition from Uber and Bolt Technology in Europe, along with regulatory pressures on driver benefits, may pose challenges for Lyft’s expansion. Bolt recently introduced benefits like holiday pay and minimum wage guarantees for UK drivers.



Read more at Yahoo Finance: Lyft to enter European market with $200 million FreeNow acquisition