As the metropolitan cities around the world get more and more congested and parking spaces continue to disappear, people often prefer to rent a ride and relax in the back seat thinking about how far they’ve come, literal or otherwise. Ride sharing and cab aggregation service is a thriving business these days.
Swedish carmaker Volvo wants a piece of that too. The company is developing a new app for their upcoming brand ‘M’, an on-demand car sharing service which will debut in Sweden and US in spring 2019.
“Volvo Cars is becoming more than just a car company. We recognise that urban consumers are rethinking traditional car ownership. M is part of our answer. We are evolving to become a direct-to-consumer services provider under our new mission ‘Freedom to Move’,” said Håkan Samuelsson, Volvo Cars President and Chief Executive.
In fact, the company already owns Sunfleet, a leading car sharing company in Sweden with a fleet of 1,700 cars. It will be fully integrated into M in 2019, making the service available to all existing Sunfleet members.
The M app will have a proprietary learning technology that asks users about their specific needs instead of merely informing them where they can pick up a car, the company said. The new brand draws on 20 years of learnings and data from Sunfleet.
“Mobility is undergoing a fundamental transformation and Volvo Cars is leading that change. The launch of M creates new sources of revenue for Volvo Cars and will be integral to the company’s ambition to build more than 5 million direct consumer relationships by the middle of the next decade,” added Samuelsson.