VW invests in a ride-haling company image

Volkswagen is also starting to explore this lucrative business, by taking a stake in the Israel-based taxi-sharing firm Gett.

As it is looking forward to overpassing the damages triggered by the emissions scandal, Volkswagen is now focusing more than ever on mobility services to diversify their business and boost their profit, while also trying to play catch up with major automakers which are already exploring this new lucrative direction. Therefore, Europe’s biggest automaker said it made a 300-million-dollar strategic investment in Gett (formerly GetTaxi), a global ride hailing provider based in Tel Aviv, Israel. Gett operates in over 60 cities worldwide, including London, Moscow and New York. In London alone, half of all the black cabs use Gett, after the company bought London’s Radio Taxis, a move that boosted its fleet in the city to 11,500 cars.

“Alongside our pioneering role in the automotive business, we aim to become a world leading mobility provider by 2025,” CEO Matthias Muller said in a statement. “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.” Volkswagen is to present its new long-term plan around mid-June, which focuses on eight key strategic points for the entire German auto group until 2025, according to excerpts from Mueller’s speech at a recent internal management meeting at the carmaker’s Wolfsburg headquarters.