The auto major Volkswagen Group has announced making $300 million investment in Uber and Lyft rival Gett. UK-based Gett is popular in Europe and is said to be growing 300% year-over-year.
The ride-hailing market represents the greatest market potential in on-demand mobility, while creating the technological platform for developing tomorrow's mobility business models. The Volkswagen Group's expressed goal is to generate a substantial share of sales revenue from such new business models by 2025. To this end, the Group is opening for new partnerships and strategic investments.
"Alongside our pioneering role in the automotive business, we aim to become a world leading mobility provider by 2025," says Matthias Muller, chairman of the board mf Management of Volkswagen Aktiengesellschaft. "Within the framework of our future Strategy 2025, the partnership with Gett marks the first milestone for the Volkswagen Group on the road to providing integrated mobility solutions that spotlight our customers and their mobility needs."
"The Volkswagen Group and Gett is a great strategic partnership. 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," says Shahar Waiser, Gett's founder and CEO.
Through the Gett app consumers can, at the touch of a button, book on-demand rides instantly or pre-book rides for later. Besides transportation, Gett covers innovative delivery and logistics. Constantly evolving, Gett's technology leverages big data, cutting-edge predictive algorithms, and artificial intelligence. It therefore serves as the foundation for a viable on-demand autonomous car operation.
With the support of the Volkswagen Group, one of the world's largest carmakers, Gett will further strengthen its position in the market. Based on a strategic alliance agreement, the partnership's joint growth strategy is focused on collaborative development and market expansion of on-demand mobility services in Europe and beyond.
The ride-hailing market represents the greatest market potential in on-demand mobility, while creating the technological platform for developing tomorrow's mobility business models. The Volkswagen Group's expressed goal is to generate a substantial share of sales revenue from such new business models by 2025. To this end, the Group is opening for new partnerships and strategic investments.
"Alongside our pioneering role in the automotive business, we aim to become a world leading mobility provider by 2025," says Matthias Muller, chairman of the board mf Management of Volkswagen Aktiengesellschaft. "Within the framework of our future Strategy 2025, the partnership with Gett marks the first milestone for the Volkswagen Group on the road to providing integrated mobility solutions that spotlight our customers and their mobility needs."
"The Volkswagen Group and Gett is a great strategic partnership. 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," says Shahar Waiser, Gett's founder and CEO.
Through the Gett app consumers can, at the touch of a button, book on-demand rides instantly or pre-book rides for later. Besides transportation, Gett covers innovative delivery and logistics. Constantly evolving, Gett's technology leverages big data, cutting-edge predictive algorithms, and artificial intelligence. It therefore serves as the foundation for a viable on-demand autonomous car operation.
With the support of the Volkswagen Group, one of the world's largest carmakers, Gett will further strengthen its position in the market. Based on a strategic alliance agreement, the partnership's joint growth strategy is focused on collaborative development and market expansion of on-demand mobility services in Europe and beyond.
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