Spain's Ferrovial SA (FER.MC) and Renault SA (RNO.FR) on Friday said that they will launch an electric car-sharing service in the Spanish capital of Madrid.
The collaboration between the Spanish infrastructure operator and the French car maker, known as Zity, will launch in December and consist of a fleet of 500 electric vehicles.
Ferrovial said that Javier Mateos will serve as chief executive of the newly created Zity.
The service will originally be available within the city's M-30 motorway limits, with plans to expand beyond this area in the future.
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(END) Dow Jones Newswires
November 03, 2017 08:51 ET (12:51 GMT)