Gett picks up a $300 million investment from Volkswagen

volkswagen gett investment screen shot 2016 05 24 at 4 42 44 pm
Staying relevant in the automotive industry seems increasingly tied to the ride-sharing industry, and now, Volkswagen Group has become the latest to join the foray. On Tuesday, the German automobile company announced a $300 million strategic investment in Gett, the on-demand transportation service with a significant presence in Europe.

It’s a trendy move as of late, with General Motors announcing a similar investment in Lyft earlier this year, and Uber partnering with a major Chinese automaker back in 2015. According to Volkswagen, the decision comes “as part of its strategy to generate a substantial share of its future sales revenue from new business models focused on mobility services.”

While Gett has an office in New York, the black car service is most popular overseas, and is available in over 60 cities across the globe. In London, the service has seen particular success, with over half of all black cabs operated by the transportation startup.

“We are thrilled to partner with the Volkswagen Group, the No. 1 global car manufacturer,” said Gett founder and CEO Shahar Waiser in a statement. “With VW’s investment, Gett will now accelerate its expansion to the rest of Europe, and strengthen its position in NYC, where we already operate.”

For its part, Volkswagen has clearly taken note of the need to expand its market, and in particular, the opportunity made available by on-demand mobility.

“Alongside our pioneering role in the automotive business, we aim to become a world leading mobility provider by 2025,” said 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.”

Gett certainly isn’t staying in its original lane either, taking a page out of Uber’s book and adding delivery services for things like pizza and champagne. And in London, you can also use Gett to make deliveries of your own.

“The Volkswagen Group and Gett is a great strategic partnership,” Waiser concluded. “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.”

Cars

Lyft and Aptiv’s self-driving car program has come a long way (but not far enough)

Many companies talk about self-driving cars, but Lyft and Aptiv are already using a fleet of them to transport paying customers in Las Vegas. Hop in for a close look at the tech of autonomous cars, and the challenges they face.
Cars

Some of Volkswagen’s electric models will wear a ‘Made in the USA’ label

Confirming earlier rumors, Volkswagen has announced it will build electric cars in its Chattanooga, Tennessee, factory. The facility currently produces the Passat and the Atlas. Production will start in 2023, Digital Trends can reveal.
Virtual Reality

Think virtual reality is just for games? These awesome apps will change your mind

Virtual reality isn't all about gaming. Swim with turtles, paint in 3D, and immerse yourself in some unique experiences the platform has to offer with our curated list of the best VR apps.
Cars

The redesigned 2020 Passat proves Volkswagen still believes in sedans

The sedan segment in America is shrinking, but Volkswagen still believes in it. The German firm introduced the redesigned 2020 Passat with a new look and more tech at the 2019 Detroit Auto Show.
News

Ford has a plan to future-proof the hot-selling F-150 pickup truck

Worried about the threat of rising gas prices, Ford will add the F-150 to its growing portfolio of electrified vehicles. It is currently developing a hybrid F-150, and it will release an electric version of the next-generation truck.
Cars

Ford’s Mustang-inspired electric crossover will spawn a Lincoln luxury version

Lincoln will get its own version of parent Ford's first mass-market, long-range electric vehicle. While Ford's version will have styling inspired by the Mustang, Lincoln will take a more traditional approach.
Cars

Driving Daimler’s 40-ton eCascadia big rig isn’t just fun, it’s electrifying

Daimler Trucks brought its all-electric eCascadia semi-truck to the 2019 CES, and invited us to take the wheel. What does it feel like to drive one? Simply electrifying, of course.
Home Theater

Spotify adds simplified Car View mode for Android users

What was once just a test is now a reality: Spotify is rolling out a new, simplified in-car user interface for all Android users called Car View, which automatically engages when the app detects a car Bluetooth connection.
Cars

Boutique carmaker Karma Automotive, legendary design firm Pininfarina team up

Karma Automotive is partnering with legendary Italian design firm Pininfarina on future luxury cars. The first product of that partnership will appear later this year, Karma said, without offering other details.
Cars

Sibling rivalry: 2019 BMW Z4 takes on the 2020 Toyota Supra

BMW and Toyota forged an unlikely partnership when they set out to build a sports car platform together. Here, we examine the similarities and differences between the 2019 Z4 and the 2020 Supra.
Cars

Tesla cuts workforce by 7 percent, ends referral program to trim costs

Tesla has announced plans to trim its workforce by seven percent, and it will end the referral program that rewards customers who help it sell cars. These measures are ways to cut costs and boost profits.
Cars

Worried about commuting in winter weather? Nissan has the answer

The Nissan Altima midsize sedan is now available with all-wheel drive. To advertise that fact, Nissan's Canadian division slapped some tank-like tracks on an Altima to create a one-off show car.
Emerging Tech

Too buzzed to drive? Don’t worry — this autonomous car-bar will drive to you

It might just be the best or worst idea that we've ever heard: A self-driving robot bartender you can summon with an app, which promises to mix you the perfect drink wherever you happen to be.
Cars

Michigan OKs digital license plates with Rplate’s connected car platform

The state of Michigan approved the use of digital license plates on motor vehicles registered in the state. Reviver Auto, the manufacturer of the Rplate connected car platform, worked with Michigan's Department of State to pass the bill.