Volkswagen Invests $300M Into Service That Claims It's 'Better Than Uber'
Volkswagen has invested $300-million in Gett, a global ride hailing provider.
Formerly known as GetTaxi, Gett currently operates in 60 cities worldwide and is considered one of the fastest growing ride hailing providers in the mobility-on-demand market. Last month, the Volkswagen Group announced plans to launch a legally independent company to develop mobility services and a key partner in the area will be Gett. Serving as one of the leading providers in the European ride hailing market, Gett also has development facilities in Israel. In London, one of the 60 cities it operates in, half of all the black cabs use Gett.
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Through the Gett app, consumers can book on-demand rides instantly or pre-book rides for later. The company also offers innovative delivery and logistics, while its technology leverages big data, cutting-edge predictive algorithms and artificial intelligence. Volkswagen hopes with its support, Gett can further strengthen its position in the market with the partnership’s growth strategy focused on collaborative development and market expansion of on-demand mobility services in Europe and beyond.
“Alongside our pioneering role in the automotive business, we aim to become a world leading mobility provider by 2025,” says Matthias Müller, Chairman of the Board of 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.”
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Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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I think there is an attempt to explain it in the article, but it must have gone over my head. What is the advantage to an automaker which purchases a portion of a ride-hailing company?