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VOW Volkswagen AG

139.50
1.30 (0.94%)
24 May 2024 - Closed
Realtime Data
Share Name Share Symbol Market Type
Volkswagen AG TG:VOW Tradegate Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.30 0.94% 139.50 139.10 139.90 139.90 136.90 137.80 2,840 22:50:02

Volkswagen to Invest in Bike-Leasing Service Owned by Pon

04/09/2023 8:39am

Dow Jones News


Volkswagen (TG:VOW)
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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)

Copyright (c) 2023 Dow Jones & Company, Inc.

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