Update: Kia Motors announced the launch of their first CarShare market in Europe
Repsol SA REP and Kia Motors Corp. (000270.SE) will launch a car-sharing service, known as WiBLE, in Madrid in the second half of 2018, the companies said Wednesday.
The two companies chose Madrid as it offers interesting geography and demographics and is likely to receive the new service positively, according to Repsol.
Repsol said it is still working out the details of how the service will operate in Madrid and is currently awaiting authorization from the European Commission.
WiBLE has been operating in South Korea since last year, the company said.