Car-sharing service Zipcar drives into UK; second overseas investment in as many years

Zipcar motors into 2nd European country

NEW YORK — The popular car-sharing service Zipcar said Wednesday it will buy a similar U.K. service called Streetcar, expanding even further into Europe.

Last year the company, based in Cambridge, Mass., bought into another car-sharing service in Spain and said it now has a base to grow its European market even more.

Both European companies will operate under the Zipcar name.

Terms of the acquisition were not released Wednesday.

Zipcar charges an hourly fee to rent vehicles ranging from Mini Coopers to sport utility vehicles in urban neighborhoods. It has 360,000 members in cities and college campuses in 28 locations in North America and Europe.

Streetcar, based in London, began in 2004 and now operates in 1,100 locations in eight U.K. cities.