Volvo will offer on demand access to cars through a new app-based subscription service called M.
The new service will debut in Sweden and the US next spring.
“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, president and chief executive of Volvo Cars.
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.
“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.”
Volvo Cars expects M to help it reach its goal of having five million direct consumer relationships by the middle of the next decade.
Further information about the M service will be released later this year.