Volkswagen Group sold WeShare car-sharing business to Miles Mobility

According to the report, Volkswagen Group sold its electric car-sharing service WeShare to German startup Miles Mobility on November 1 due to the inability to bring profits to the company. The two parties did not disclose the acquisition.

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Miles will integrate WeShare’s 2,000 Volkswagen-branded electric vehicles into its gasoline-fueled fleet of mostly 9,000 vehicles, the companies said on Tuesday. Meanwhile, Miles has ordered more than 10,000 electric vehicles from Audi, Seat, Cupra, and Volkswagen brands for delivery in 2023.

Christian Dahlheim, chief executive of Volkswagen Financial Services, said in an interview that the Volkswagen Group decided to sell WeShare because the company realized that shared services could not improve profitability after 2022.

Dahlheim also pointed out that the cooperation between Volkswagen and Miles Mobility is not exclusive, and Volkswagen will also provide vehicles to other car-sharing platforms in the future.

Volkswagen WeShare soldAccording to Miles, the car-sharing service WeShare will operate as usual for the time being. In the coming weeks, WeShare’s vehicles and customers will be integrated into the Miles system.

Miles was recently involved in an initiative by the German city of Hamburg, where the car-sharing company struck a deal with Share Now, Sixt, and WeShare to increase the share of electric vehicles in its fleet to at least 80% by 2023/24.

Moreover, the transaction represents yet another German automaker abandoning its car-sharing business. BMW and Mercedes-Benz already sold their joint car-sharing business Share now to Stellantis mobility subsidiary Free2Move this summer.


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