The future of car ownership? Volkswagen goes low rent with $4.6b takeover bid for rental car company Europcar, as part of ‘mobility solutions’ transition
The Volkswagen Group is set to make a takeover bid for one of the world’s largest vehicle hire companies Europcar, signalling its intention to join other major car makers in the car rental and subscription market.
The takeover offer, worth $AU4.7b, is expected to be filed with the French Stock Market Authority towards the end of 2021 and may not be completed until early 2022.
Europcar operates in more than 140 countries, with a fleet of about 350,000 vehicles. Volkswagen is hoping to leverage this enormous reach and network as it transforms itself from a car seller to providing “mobility