PSA Returning To U.S. Market With Ride-Sharing Service

The PSA Group will make its first baby steps towards a re-entry into the North American market by partnering with a ride-sharing service.

French peer-to-peer ride-sharing company, TravelCar, formed in France and operating throughout Europe, recently received 15 million euros ($15.8 million) in investments from PSA and a French insurance company.

The company was founded in 2012 and has over 200 agencies in 10 European countries. It also provides car owners with free parking in return for offering their vehicles to be rented by travelers at airports and train stations.

In a statement, PSA’s head of mobility services, Gregoire Olivier said “We announced our progressive entry to North America by launching mobility services with our partners. With TravelCar today, we are writing the beginning of this new step overseas.”

PSA’s involvement with TravelCar comes after it released its five-year strategic plan to re-enter the North American market. Dubbed ‘Push to Pass’, it will see Peugeot models sold stateside for the first time since the early 1990s.

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