Skip to main content

Volkswagen Invests $300 Million in Ride Hailing Service

Volkswagen AG has announced that it has invested $300 million in Gett, a popular ride hailing service in Europe, Russia, and Israel (where it was founded), and which recently broke into New York. Forbes reports that the company claims revenues of $500 million and that they are profitable in their earliest markets.

The company is similar to Uber and  Lyft in that customers can hail a ride at the touch of a button, although they currently promise no surge pricing and their operations are wider ranging than just giving rides. Gett also provides delivery and logistics services.

“The Volkswagen Group and Gett is a great strategic partnership,” says Shahar Waiser, Gett’s founder and CEO. “The pay-per-ride domain is growing rapidly. In that context, Gett provides VW with the technology to expand beyond car ownership to on-demand mobility for consumers and businesses,”

Volkswagen AG chairman Matthias Muller adds that the company aims to become a “world leading mobility provider by 2025.”

The move comes among a flurry of investments from major companies in similar services. Toyota recently invested in Uber, while GM invested in Lyft, and Apple invested Didi Kuaidi.

Despite the large investments, what these new partnerships will look like remains to be seen. For General Motors, though, the investment came as a way of selling more cars in urban areas, reports Automotive News. The American giant’s sales have long been bolstered by pick-up and SUV sales in rural areas, while their smaller cars have traditionally done poorly. GM hopes to remedy that with the help of Lyft, which does well in urban areas.

Automotive News also reports that short term leasing plans, designed to appeal to ride-hailing-app-drivers could become a way to generate sales faster than through traditional leases.

Whatever the case is with the partnership between Gett and Volkswagen, more details will come over time.

The post Volkswagen Invests $300 Million in Ride Hailing Service appeared first on VWVortex.



from VWVortex http://ift.tt/1Z0iptm
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Project SportWagen: Going Stage 2 with APR

    When we last left you, the humble little SportWagen was fresh from the development process with our friends at AWE Tuning, sporting a new downpipe, exhaust and intake, allowing things to breathe a bit easier.  The car sounded great, but there was no getting around the fact that our wagon was still quite, well, slow.   While we realize that nothing we do to the Golf SportWagen at this point will make it a race car, we still felt compelled to do something .  To put it bluntly, we had a fever, and the only cure was more power. Flash forward a few hours, and we found ourselves at Waterfest, staring down APR’s palatial spread and the numerous tuned vehicles surrounding it.  Earlier in the year, APR had hinted to us that their 1.8 TSI files would be quite impressive, and based on what they were able to do with the 2.0 TSI found in the new GTI and our time in their Golf R, we knew it’d be worth the wait.  So with this in mind, we lined our G...
Post a Comment
Read more

Volkswagen’s Gone to California with Grand California Camper

Volkswagen is bringing the California XXL concept to production. It will debut at the Dusseldorf Caravan Salon as the Grand California. It’s set to be based on the medium wheelbase Crafter van. That’s the company’s full-size commercial van, larger than the T6 Transporter based California. The high roof means room for adults to stand up, though it won’t get the concept’s extended length. The Grand California offers a full wet bathroom. It’s not exactly spacious, though, measuring in at around 31.5 x 33-inches. A toilet, shower, and sink are all crammed into that space, but at least there are motion sensor lights to stop you from reaching for a switch. Standard, the Grand California it comes with berths for two adults. Space for two children is optional, but they’ll be stuck in a berth amove the driver’s area. The kitchen offers a sink, stove, and two fridges. The front seats swivel to add seating space when the RV is parked. It’s also got solar panels, an integrated satellite dish,...
Post a Comment
Read more

Novitec, Unsatisfied with Aventador SV, Adds More Veloce

The Lamborghini Aventador SV is no slouch, but if you’re into Lamborghinis, chances are you’re into big numbers. Whether it’s in the bank or under the hood, a big number could, and perhaps should, always be bigger, which is where Novitec steps in. Novitec has been modifying Italian cars for years, and their Torado line is dedicated to making ridiculous Lamborghinis even more ridiculous. Their latest effort takes the Aventador SV and remaps the engine to give it 786hp and 544 lb-ft of toque. They’ve also fitted the car with a new exhaust system that cuts 50 lbs off the car. Other mods include a carbon fiber aero package, spoiler, front splitter and air intake, all of which helps it shed even more weight. The Aventador also sits on 21 (back) and 20 (front) inch Vossen wheels. So if you think that a regular Aventador is just a little too pedestrian, give Novitec a call and they’ll hook you up. The post Novitec, Unsatisfied with Aventador SV, Adds More Veloce appeared first on VWVor...
Post a Comment
Read more