CAR MAKERS TACKLE NEW TECHNOLOGY
VW hails rides into electric future
Frankfurt — VW plans to expand its new mobility-services division into a multibillion-euro business as the German car maker seeks salvation in ride-hailing, autonomous driving and electric cars in the wake of the diesel-emissions scandal. Moia, Volkswagen’s 13th brand, will initially focus on ride hailing and car sharing and will extend its services to two European cities in 2017 before possibly expanding to other regions. Moia aims to be one of the world’s three biggest mobility providers and to generate revenue of "a couple of billion" of euros in a few years, Ole Harms, the unit’s head, said. "We’re a start-up with VW group’s resources and we have a global aspiration," Harms said ahead of the unit’s official unveiling on Monday at the Tech Crunch Disrupt Conference. Volkswagen is open to selling a minority stake in Moia, in which it has invested an amount in the "significant three-digit million-euro range", he said. Volkswagen, still recovering from the year-old emissions-cheatin...
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