Mexican Media Brands
VW Brand Predicts €1 Billion Revenue from Online Services
Volkswagen AG’s VW brand says it expects to generate €1 billion ($1.1 billion) in annual revenue by 2025 from the global wireless services network it is building.
#economics #hybrid
Share
Volkswagen AG’s VW brand says it expects to generate €1 billion ($1.1 billion) in annual revenue by 2025 from the global wireless services network it is building.
The cloud-based marketplace, which aims to serve VW’s entire fleet of new vehicles, will offer such amenities as car sharing, delivery and parking space reservations. VW has said it expects some 5 million of its new vehicles will be part of the network by 2020.
VW partnered with Microsoft Corp. in September to develop what it calls an “industrial automotive cloud” that assembles all of the carmaker’s digital services. The marketplace will use Microsoft’s Azure platform, integrating the One Digital Platform VW was developing internally.
Yesterday VW said it also spent $122 million to acquire a 71% stake in WirelessCar, a fleet-connectivity subsidiary of commercial truckmaker AB Volvo. That service also will become a part of the network VW and Microsoft are creating.
RELATED CONTENT
-
GM, Ford Evaluate Possible Economic Slump
General Motors and Ford say they have bolstered their cash reserves in case the trade war between the U.S. and China triggers a global recession.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
