Volkswagen closes Europcar transaction, eyes to boost mobility services

MANILA: Volkswagen achieved a new milestone for its New Auto strategy with the completion of the Europcar transaction. The group's goal is to gain a big share of the global market for mobility services which is projected to rapidly grow within the decade. In collaboration with consortium partners Attestor and Pon Holdings, Volkswagen will speed up Europcar Mobility Group's transition into becoming the pioneer in sustainable mobility through technology and data. The company will maintain its current alliances while also becoming a key element of Volkswagen's future mobility platform. The service from Europcar Mobility Group will meet a wide range of customer's mobility needs, from car sharing for a few hours to monthly vehicle subscriptions.

Volkswagen, Porsche Bank, and Europcar will conduct the testing of mobility services in the fourth quarter of the year. The platform will take a crucial next step with the introduction of autonomous vehicles in the second half of the decade. This will enable entirely new services and raise the company's efficiency and profitability even further.

In a statement, Volkswagen Financial Services Chief Executive Officer Christian Dahlheim said, “We are really excited that our customer-centric vision of future mobility materializes with the closing of the Europcar transaction. Its dedicated team brings important capabilities and assets to the table that help us to realize our plans swiftly. Our expectation is that by far most people will still prefer individual mobility by 2030, but it will be more about using and less about owning vehicles. Our new mobility platform will perfectly respond to this trend with a highly flexible and convenient offering at our customers’ fingertip. Autonomous vehicles will be the next gamechanger and lift the platform to an even higher level on the way to New Auto.”

Volkswagen Financial Services are an important part of the New Auto strategy and play a significant role in Mobility Solutions. The new central platform will contain all of the branded mobility services that the Volkswagen Group brands will provide, each of which will be customized to the demands of their customers. A comprehensive offering is also expected. In the future, one app will provide access to a wide range of practical and seamless services. A joint fleet of vehicles that provides all these services will guarantee availability, capacity, and rentability.

Europcar will become a pillar of the mobility platform. It offers advanced fleet management capabilities and a strong network of stations at major airports, train stations, and metropolitan areas. It was Volkswagen Group's first choice for a rapid ramp-up of its platform.

The mobility platform will draw even more individual and business customers once autonomous vehicles are included into the fleet. Platform operation will become even more profitable and efficient because vehicles can be automatically moved between places depending on demand and much more.

The Volkswagen Group is now testing the first autonomous ID. Buzz in Germany and has plans to conduct similar autonomous driving projects in other key cities in Europe, China, and the USA. Volkswagen will launch its first commercial autonomous mobility service in Europe in 2025, with the US following soon after.

Europcar Mobility Group is a major player in the mobility business. It is composed of five major brands namely, Europcar, the leader in car rental and light commercial vehicle rental in Europe; Goldcar; InterRent; Ubeeqo; and Buchbinder. Europcar Mobility Group provides mobility solutions worldwide through a network in over 140 countries.

Photo from Volkswagen

Also read: Volkswagen, Siemens invest US$450-M to grow US, Canada charging network