EU To OK Volkswagen In $3 Billion Europcar Deal

Volkswagen and a group of EU carmakers are set to win unconditional EU antitrust approval for a $3 billion bid for French car rental company Europcar, reported Reuters. 

With an international network in more than 140 countries and a fleet of over 350,000 vehicles, Europcar would help Volkswagen to increase its presence in lucrative mobility services. Carmakers are looking to car data as the next money spinner.

Volkswagen teamed up with asset manager Attestor Limited and Dutch mobility group Pon Holdings BV last year to launch the bid for French-listed Europcar, placing a bet on fast-growing mobility services. 

Volkswagen’s 2030 strategy announced last year anticipates software and services will spur growth in the global automotive market, which it estimates will more than double in value to 5 trillion euros by the end of the decade.

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