- Group set up to exploit rapidly growing profit pool with NEW AUTO strategy
- Europcar will be cornerstone of new platform which will cover customers’ mobility needs from sharing for a few hours to subscription for multiple months
- Two-step approach: first centralize services, then add autonomous vehicles
- Pilot phases of services to start in Vienna (Q4/22) and Hamburg (Q1/23)
Volkswagen’s future Mobility Solutions materialize with closing of Europcar transaction
Volkswagen delivered another important milestone of its NEW AUTO strategy with the closing of the Europcar transaction. The Group is aiming to secure a significant share of the global market for mobility services which is expected to grow rapidly in the course of the decade. Together with its consortium partners Attestor and Pon Holdings, Volkswagen will accelerate Europcar Mobility Group’s transformation to become the leader in sustainable mobility through technology and data. The company will continue its existing partnerships while, at the same time, becoming a cornerstone of Volkswagen’s future mobility platform. Europcar Mobility Group’s offer will cater to a wide variety of the customers’ mobility needs, from car sharing for a few hours to car subscription for multiple months. Pilot phases of mobility services in partnership between Volkswagen, Porsche Bank and Europcar are to start as early as Q4/22 in Vienna. Hamburg is expected to follow in Q1/23. An important next step for the platform will be the introduction of autonomous vehicles in the second half of the decade. This will enable entirely new services and lift the business to an even higher level of efficiency and profitability.