Volvo Cars yesterday launched their new all-inclusive mobility business arm, aptly called ’M'. The new brand will expand the company’s global mobility operations by providing dependable, on-demand access to cars and services through an intuitive app.
“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.
M is developing proprietary learning technology that asks users about their specific needs instead of merely informing them where they can pick up a car. This technology will also learn about its user’s preferences and habits, personalising the customer relationship.
“The services currently available mainly offer alternatives to a taxi or public transit,” said Bodil Eriksson, CEO of Volvo Car Mobility. “We’re focused on the way people use the cars they own, which sets us apart. We aim to provide a real alternative to that experience. It should enable us to live life on our terms, getting things done and maximising precious time. We see the opportunity to offer a premium experience.’”
In addition to a team of experienced and sought-after digital software engineers and leading talent, M draws on 20 years of learnings and data from Sunfleet, Volvo Car’s car-sharing pioneer.
Sunfleet is the leading car sharing company in Sweden with 500,000 annual transactions and a fleet of 1,700 cars. It will be fully integrated into M in 2019, making the service available to all existing Sunfleet members.
“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,” said Mr Samuelsson.
“Stockholm, Sweden, will serve as M’s base of development and where we already conduct extensive testing. A broader Beta test will take place this autumn,” said Ms Eriksson.
More details of M will be shared by the company in the coming months, which they say is scheduled to debut in Sweden and the US in the spring of 2019.