Audi is looking to acquire Silvercar by expanding its minority share which it previously invested during the company’s Series C investment round to 100 percent. Silvercar Inc is a car rental company which relies on mobility technology. The company has successfully specialised in digital services for flexible vehicle use in the high-end market segment. The start-up, founded in 2012, is known for its seamless customer experience and exceptional service levels — from reservations to vehicle return via a mobile app. The Silvercar fleet consists exclusively of silver Audi A4 models.
“Audi and Silvercar share the same vision,” says Dietmar Voggenreiter, Board Member for Sales and Marketing at AUDI AG. “We want to open up a new, flexible way to access mobility for our customers while offering premium quality in every respect. Now we are joining forces and, together, are driving our initiative for innovative mobility services forward.”
Audi and Silvercar will work closely to develop the range of mobility services in the United States for both brands. Audi plans to acquire all shares in Silvercar and expect approval by applicable regulatory authorities with the transaction concluding in the first half of 2017.
In the long run, having ride-sharing businesses mean that automakers still have a part to play by producing more cars for them. Still the combination of the mobility services and technology coupled with a large manufacturer backing it means that Silvercar can only push on further ahead.