Volkswagen to Invest in Bike-Leasing Service Owned by Pon
September 04 2023 - 3:39AM
Dow Jones News
By David Sachs
Volkswagen said Monday that it plans to invest in Bike Mobility
Services, a subsidiary of Pon.
The German Car maker said its financial services arm will invest
in the bike-leasing business of the Dutch bicycle manufacturer to
capitalize on the trend of companies adding bikes to their
traditional fleets. Volkswagen did not disclose monetary
details.
Bike Mobility Services aims to become the largest
manufacturer-owned bicycle financier in Europe and is also focusing
on growth in the U.S., Volkswagen said. Its brands include Business
Bike, Lease A Bike and B2Bike.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
September 04, 2023 03:24 ET (07:24 GMT)
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