Car sharing provider MILES Mobility acquires WeShare
Berlin/Cologne, November 02, 2022 — Germany’s largest independent car sharing provider MILES Mobility has acquired Volkswagen subsidiary UMI Urban Mobility International GmbH, known as WeShare. The carsharing provider WeShare is present in Berlin and Hamburg with around 2,000 all-electric vehicles, which are now being migrated to the MILES ecosystem, the existing carpool and the user app.
WeShare is backed by VW subsidiary UMI Urban Mobility International, which is being acquired by Miles Mobility. The WeShare fleet, which consists of 100 percent electric vehicles, will be integrated into Miles Mobility’s car pool.
VW and Miles Mobility have also agreed on a strategic partnership. Part of the cooperation is the purchase of more than 10,000 electric vehicles from the Audi, Seat/Cupra and VW brands, which will be delivered to Miles Mobility starting next year. With regard to the financial details of the transaction, the parties have agreed to maintain confidentiality.
With this acquisition, the company is expanding its vehicle fleet and customer base in an economical and sustainable way. MILES customers will benefit from a larger e‑fleet, and existing WeShare customers will gain access to a significantly larger and more diverse vehicle portfolio, six additional German and two Belgian cities, and new services such as city-to-city and cross-country rides. In total, more than 11,000 vehicles will be available in Germany and Belgium. As part of the new partnership, MILES has already ordered more than 10,000 additional electric vehicles from Audi, Seat/Cupra and VW Passenger Cars for delivery starting in 2023.
Both parties are thus taking an important step towards a reliable, comfortable and sustainable form of mobility as an alternative to the private vehicle. To continue on this course, MILES aims to become Europe’s leading car-sharing platform.
Consultant:inside MILES Mobility: YPOG
Dr. Johannes Janning (Co-Lead, M&A), Associated Partner
Dr. Stephan Bank (Co-Lead, M&A), Partner
Dr. Tim Schlösser (Co-Lead, M&A), Partner
Nina Ahlert (M&A), Senior Associate
Jonathan Görg (M&A), Associate
Laura Franke (M&A), Project Lawyer
Dr. Lutz Schreiber (IP/IT, Data Protection), Partner
Dr. Benedikt Flöter (IP/IT, Data Protection), Associated Partner
Matthias Treude (IP/IT, Data Protection), Associate
Anna Eickmeier (IP/IT, Data Protection), Senior Associate
Sara Apenburg (IP/IT, Data Protection), Senior Associate
Dr. Malte Bergmann (Tax), Partner
Ann-Kristin Lochmann (Tax), Associated Partner
Lukas Schmitt (Tax), Associate
Advisors VW / WeShare: Arqis
VW is being advised by Arqis in the course of the sale of its subsidiary UMI Urban Mobility International and the strategic cooperation with Miles Mobility. Lead management Dr. Lars Laeger.
About MILES Mobility
MILES is Germany’s largest independent car-sharing provider. The offering includes mileage-based car sharing, van sharing, and packages for flexible long-term rentals as well as city-to-city trips — all without stations in a free-floating system. MILES believes in a world where mobility should be shared, sustainable and accessible to everyone and wants to offer an alternative to private car ownership. The goal is to be part of the personal mobility mix to improve urban living. MILES is currently active in Germany (Berlin, Potsdam, Hamburg, Munich, Cologne, Düsseldorf, Bonn and Duisburg) and in Belgium (Ghent and Brussels).
WeShare is the 100% electric car sharing service of UMI Urban Mobility International GmbH, headquartered in Berlin. A Volkswagen AG company, WeShare launched in July 2019 with 1,500 electric vehicles in Berlin and expanded its fleet to Hamburg over time. As a “vehicle on demand” service, WeShare serves the needs of people who do not want to do without individual mobility. It is intended as a useful additional service for all occasions when a car is practical and convenient.
YPOG is a specialist tax and commercial law firm operating in the core areas of Funds, Tax and Transactions. The YPOG team advises a wide variety of clients. These include emerging technology companies and family-run medium-sized enterprises as well as corporations and private equity/venture capital funds. YPOG is one of the leading addresses for venture capital, private equity and fund structuring in Germany. The firm and its partners are nationally and internationally ranked by JUVE, Best Lawyers, Legal 500, Focus, and Chambers and Partners. Today, YPOG employs more than 100 experienced lawyers, tax advisors, tax specialists and a notary in three offices in Berlin, Hamburg and Cologne.