The Europcar Lab takes majority stake in E-Car Club
The firm said the new acquisition is fully in line with its strategy to develop mobility market usages, search for new mobility solutions opportunities worldwide and make investments in strategic initiatives allowing the group to strengthen its leadership in the mobility market.
E-Car Club is a start-up electric car sharing business headquartered in London supported to date by business angels and Centrica (through an investment by Ignite Social Enterprise). It currently operates across a number of UK sites including London, Hertfordshire, Northamptonshire, Oxfordshire, Buckinghamshire, Warwickshire and Fife, with partnerships including universities, local authorities and housing associations.
Following its acquisition, the business will be led by its founders, Chris Morris and Andrew Wordsworth within the Europcar Lab.
Europcar added that it has ambitious plans to expand E-Car Club further.
Fabrizio Ruggiero, member of the Europcar Groupe Management Board, and head of mobility, said: “This is an exciting step in the mobility journey we are providing our customers with. Entrepreneurship and innovation are strong values we share with E-Car Club and that we want to preserve and enhance. We look forward to accelerating the development of E-Car Club’s electric vehicle car sharing solutions, based on Europcar’s extensive experience and client base in the UK marketplace. This investment, once again, demonstrates Europcar Lab’s ability to identify specific strategic opportunities to enrich the mobility offers to its customers.”