Lyft joins European ride-hailing race as third major player
The U.S. company has acquired FreeNow for €175 million as it steps up competition with Uber and Bolt.
In this edition of The Mobility Week in Review, we explore Lyft’s bold move into Europe, Volkswagen’s renewed focus on China, a major new alliance reshaping global air freight, consolidation in the bike-sharing sector, and growing doubts about Tesla’s robotaxi ambitions.
Let’s jump right in.
🌸 Lyft expands into Europe with €175 million acquisition of FreeNow
Lyft is acquiring mobility platform FreeNow from German automotive giants BMW and Mercedes-Benz for €175 million as part of its strategy to expand into the European ride-hailing market. Facing increasing pressure from dominant rival Uber in North America, Lyft is looking to diversify and grow by entering new regions.