Europcar Lab takes majority stake in E-Car Club
Saint-Quentin-en-Yvelines, July 9th, 2015
The Europcar Lab takes majority stake in E-Car Club
Strategic investment in entirely electric pay-per-use car club supports future mobility solutions
The Europcar Lab, the Europcar Group unit dedicated to innovation, announces the acquisition of a majority stake in E-Car Club, the UK’s first entirely electric pay-per-use car club. This new acquisition is fully in line with Europcar Lab’s 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). Its vision is to improve local mobility whilst reducing the cost and environmental impact of each journey decision made.
E-Car Club currently operates across a number of UK sites including London, Hertfordshire, Northamptonshire, Oxfordshire, Buckinghamshire, Warwickshire and Fife. From these sites, which include universities, local authorities and housing associations, E-Car Club has established its distinctive partner-led car sharing solution.
The business will be led by its founders, Chris Morris and Andrew Wordsworth within the Europcar Lab. With ambitious plans to expand further, the involvement of Europcar in E-Car Club will provide important support.
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.”
Chris Morris, Managing Director, E-Car Club added: “We are absolutely delighted to welcome Europcar as our new majority shareholder and strategic partner. Since discussions began we’ve been incredibly impressed by their approach to innovation and commitment to alternative mobility solutions. This is an incredibly fast moving sector and working with an organisation of Europcar’s calibre will enable E-Car Club to continue on its path to further growth. We look forward to having an even more meaningful impact on the way government, private businesses and members of the public approach their daily travel needs across the UK.”