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Volkswagen Invests $300M In Gett

Automaker Volkswagen has made a strategic investment of $300 million in ride-hailing service Gett. The Israeli startup is available in more than 60 cities around the world.

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

The Volkswagen Group’s expressed goal is to generate a substantial share of sales revenue from new business models by 2025, and the company says it is looking for partnerships and strategic investments.“Alongside our pioneering role in the automotive business, we aim to become a world leading mobility provider by 2025,” says Matthias Müller, chairman of the Volkswagen AG board.

Completion of the transaction is subject to merger control clearance by antitrust authorities.

 

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