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A consortium including Volkswagen has completed its takeover of Europcar Mobility Group.
Following the closing of the deal alongside consortium partners Attestor and Pon Holdings, Volkswagen said it would turn Europcar into the leader in sustainable mobility through technology and data.
In a two-step programme, the first step will see Europcar becoming a major part of Volkswagen Financial Services' mobility programme, which will offer services ranging from car rental and subscription to car sharing and ride hailing, with the first trials due to start in Austria later this year.
Then, the second step, according to VW, will include the deployment of autonomous vehicles, with the first such service arriving in Europe in 2025, and pilot projects already being carried out in Germany.
Volkswagen Financial Services CEO Christian Dahlheim said: "We are really excited that our customer-centric vision of future mobility materializes with the closing of the Europcar transaction.
"Its dedicated team brings important capabilities and assets to the table that help us to realize our plans swiftly. Our expectation is that by far most people will still prefer individual mobility by 2030, but it will be more about using and less about owning vehicles.
"Our new mobility platform will perfectly respond to this trend with a highly flexible and convenient offering at our customers' fingertip. Autonomous vehicles will be the next gamechanger and lift the platform to an even higher level."
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