11 Jul 23

VWFS and AMAG Leasing joint venture in Switzerland

VWFS and AMAG Leasing joint venture in Switzerland

Volkswagen Financial Services AG has acquired a 50% stake in movon AG, a subsidiary of AMAG Leasing AG, to form a new joint venture in Switzerland. 

The move extends the two businesses’ existing collaboration in fleet business operations and enables the expansion of their range of products and services. AMAG Leasing focuses on fleet leasing and full-service solutions for business customers, and the joint venture will see the creation of digital tools for fleet owners and dealers. This includes fleet management and reporting tools giving customers direct access to fleets, and triggering control actions. Fleet data, such as cost overviews and fuel consumption, can be pulled up in real time. Dealers can calculate offers and digitally submit them to movon AG at the point of sale. 

Aiming for European dominance

"Our goal is to become one of the largest European fleet providers. To achieve this, we must offer our customers services of the highest standard in all markets. With the new joint venture, we are underlining our ambitions in this area and will further fortify our position in Switzerland," said Sven Kunath, Senior Vice President Fleet at Volkswagen Financial Services.

Sergio Calabrese, Managing Director of movon AG, commented: "We are pleased that we can benefit from the international experience of our German colleagues through the joint venture. Together, we will continue to expand the range of products and services we offer and can align this portfolio even more closely with the needs of modern vehicle fleets."

Image: VWFS AG

Authored by: Alison Pittaway