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Business

VW presents its Moia 'brand'

German automaker Volkswagen is pushing ahead with the extension of its mobility services. It said the new business segment would be united under the brand name Moia to be run from Berlin by a small team.

At London's technology conference called Tech Crunch Disrupt, Volkswagen executives confirmed Europe's largest automaker would invest heavily in mobility services including carsharing and app-based logistics services.

It described the segment as one of the most important business activity fields for the Wolfsburg-based company and added all initiatives to this end would be managed by a new entity called Moia.

VW said Moia would be headquartered in Berlin and would initially be run by a team of 50.

Ambitious objectives

The company had said earlier that it aimed to become a global leader in mobility services over the next couple of years, adding that it hoped to make a "substantial part of its annual revenues" from these services by 2025, with the firm's current overall turnover standing at 200 billion euros ($214 billion).

"Moia is here to prove that innovative mobility services can be created outside Silicon Valley," Moia chief Ole Harms said in a statement.

"In future, car ownership will decrease, but with Moia we want to make sure that our clients will stay our clients through our services and mobility offers," CEO Matthias Müller added.

Volkswagen has already invested some 300 million euros in Uber rival Gett. Users of the Gett app can book mobility and logistics services in over 100 cities globally.

hg/jd (Reuters, dpa)

 

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