$300m

Finweek English Edition - - THE WEEK -

Volk­swa­gen has an­nounced a $300m in­vest­ment in the Tel Aviv-based ride-shar­ing app, Gett, re­ported ft.com. Volk­swa­gen and Gett would form a strate­gic part­ner­ship to share data and work on fu­ture projects, it was re­ported. As part of the deal, Volk­swa­gen would of­fer on-de­mand ride ser­vices to busi­ness cus­tomers. At the same time, Gett driv­ers would be of­fered dis­counts on Volk­swa­gen cars to be used as taxis, said ft.com.

On the same day as the Volk­swa­gen announcement (24 May), Toy­ota an­nounced that it has in­vested an undis­closed amount in ride-hail­ing app, Uber. Toy­ota also com­mit­ted to new leas­ing op­tions for Uber driv­ers, but said that there would be more col­lab­o­ra­tion go­ing for­ward, re­ported the­guardian.com.

“Ride-shar­ing has huge potential in terms of shap­ing the fu­ture of mo­bil­ity,” the­guardian.com quoted se­nior manag­ing of­fi­cer of Toy­ota Mo­tor Cor­po­ra­tion, Shigeki To­moyama, as say­ing.

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