The explosion in popularity of on-demand mobility providers such as Uber and Lyft has garnered the attention of auto giant Volkswagen Group. The company has invested $300 million (USD) in Gett, a service that allows user to instantly – and virtually – hail a ride, or book one for the future. The company also offers on-demand mobility services for business users, which appears to be the core of its business. Formerly known as GetTaxi, Gett is used worldwide but operates mostly throughout Europe.
“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.”
According to a press release from Volkswagen, Gett’s business model is based on connecting would-be passengers with licensed and permitted drivers. The support of VW is seen as a strategic alliance focused on growing the service’s reach in Europe and eventually throughout other parts of the world.
“The Volkswagen Group and Gett is a great strategic partnership. The pay-per-ride domain is growing rapidly. In that context, Gett provides VW with the technology to expand beyond car ownership to on-demand mobility for consumers and businesses,” says Shahar Waiser, Gett’s founder and CEO.
For people who want transportation in big cities in which car ownership can be prohibitively expensive, on-demand taxi services like this make sense. If you have $300 million lying around it might be a good time to invest before it’s too late. However, if you prefer to drive yourself, we’d recommend something along the lines of the GTI in the video below.