6 Jul 22

VW closes deal with Europecar and reveals its plans for the future

VW closes deal with Europecar and reveals its plans for the future

It’s no secret that Volkswagen has been busy restructuring and redesigning its strategy of late. Yesterday, it announced the closing of the deal with Europecar, which is an important milestone in the company’s NEW AUTO strategy.

Green Mobility Holding, a bidder consortium of Volkswagen Group, Attestor Limited and Pon Holdings B.V., was initially set to complete the acquisition in March 2022 but the deadline was extended to the end of June in order to complete complex pre-filing obligations.

Securing its ranking in the mobility market

As a cornerstone of Volkswagen’s future mobility platform, the new Europecar Mobility Group is setting its sights on securing a significant share of the global mobility market. It will cater to a variety of customer needs, from car sharing for a few hours to car subscription for multiple months. Porsche Bank is also involved in providing financing for the services and pilot phases will begin in Vienna in Q4, 2022. Hamburg will follow in Q1, 2023.

Christian Dahlheim, CEO of Volkswagen Financial Services, said: “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.”

An important next step, says VW, is the introduction of autonomous vehicles in the second half of the decade, which will provide a platform for a range of entirely new services.

Image: Shutterstock

Authored by: Alison Pittaway