Home / Connected Vehicles / Audi set to acquire Silvercar, a mobility technology company based in the U.S

Audi set to acquire Silvercar, a mobility technology company based in the U.S

Audi has plans to acquire Silvercar by expanding its minority share to 100 percent. The U.S.-based company has successfully specialized in digital services for flexible vehicle use in the high-end market segment.

In the future, Audi and Silvercar intend to cooperate closely to expand the range of mobility products and services offered in the U.S. In addition to the core business of Silvercar, both partners also plan to further develop the successfully launched Audi mobility services in the U.S. market. The acquisition is currently subject to approval from the applicable regulatory authorities.

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At the center of the Silvercar portfolio is an exclusive rental car service at U.S. airports. The start-up, founded in 2012, is known for providing from reservations to vehicle return via mobile app. The Silvercar fleet consists exclusively of silver Audi A4 models and received the “World Travel Award” as North America’s best rental car service in 2015. Audi has held a minority share in Silvercar since 2015.

Audi and Silvercar intend to work in close cooperation to develop the range of mobility services in the United States for both brands. For this purpose, Audi plans to acquire all shares in Silvercar. The companies expect approval by applicable regulatory authorities with the transaction concluding in the first half of 2017.

About Piyush Rajan

Asst. Editor |Telematics Wire | Smart automotive

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