Volvo Car Mobility launches mobility brand M
Volvo Cars has launched M, a new brand that the company says will expand its global mobility operations by providing on-demand access to cars and services through an app. Additionally, Volvo says that M will learn about its user’s needs, preferences, and habits to personalize the customer relationship. It will debut in Sweden and the U.S. in the spring of 2019.
“Volvo Cars is becoming more than just a car company. We recognize 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 reportedly developing proprietary learning technology that asks users about their specific needs instead of merely informing them where they can pick up a car.
“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 maximizing precious time. We see the opportunity to offer a premium experience.”
M will also reportedly draw on learnings and data from Sunfleet, a car-sharing company in Sweden with 500,000 annual transactions and a fleet of 1700 cars. Volvo says 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 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,” noted Eriksson.
Further information about the M service will be released later this year.