New Delhi: Volkswagen Group has announced that it has made an investment of $300 million (Rs 2,000 crore approx.) in Gett, one of the rival companies of Uber. Gett is a UK-based Taxi app that is popular in Europe and is said to be growing 300 per cent very year.
Through the Gett app consumers can just at one touch book an on-demand ride instantly or pre-book rides. Besides transportation, Gett also covers delivery and logistics. Gett's technology also serves as the foundation for a feasible on-demand autonomous car operation.
Gett is widely used in cities like Moscow and London, but is struggling to compete with Uber in the US. The investment from Volkswagen, will therefore help Gett's to grow stateside.
Volkswagen has expressed that their goal is to generate a large share of sales revenue from the new business models by 2025. Matthias Muller, chairman of the board of Management of Volkswagen Aktiengesellschaft said in a statement, "Alongside our pioneering role in the automotive business, we aim to become a world leading mobility provider by 2025."
He also added, "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."
