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PSA & Bollore to Launch Car-Sharing Service in Los Angeles

France’s PSA will launch car-sharing services in Los Angeles in partnership with Bollore Group, CEO Carlos Tavares said on Monday.

“We’re working with a good number of cities, including LA, to offer car-sharing solutions with Bollore Group,” Tavares said at a seminar organized by business daily Les Echos, adding that the company had “other discussions in progress”.

Tavares also said that PSA aims to generate 300 million euros ($337 million) in revenue from its new mobility services division by 2021.

PSA announced its partnership with Bollore last year. The French conglomerate already supplies electric car-sharing services in Paris and other cities and had previously flagged Los Angeles as a potential location. -Fortune

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