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Volkswagen invests $300 million in taxi app Gett

Staff writer |
The Volkswagen Group opens the way for new mobility concepts with a significant USD 300 million stake in Gett.

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On the map with over 60 cities worldwide, Gett is one of the fastest growing ride hailing providers in the mobility-on-demand area. Based on a joint strategy, according on-demand mobility services will be further expanded.

Innovative, digitally integrated services covering all aspects of mobility promise very strong growth momentum and huge earnings opportunities in the coming years.

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 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.”

A key partner in this area will be Gett, one of the leading providers in the European ride hailing market with development facilities in Israel. Gett is available in more than 60 cities worldwide, including London, Moscow and NYC. In London alone, half of all the black cabs use Gett.

Uniquely, Gett’s convenient and at the same time highly efficient mobility solution is equally successful with consumers and businesses. It is already trusted by more than 4,000 leading corporations worldwide.

The business model is based exclusively on licensed drivers who have a permit to carry passengers and are committed to providing safe, reliable mobility.

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