Volkswagen Financial Services to acquire a minority stake in Bike Mobility Services from Pon Holdings.

Volkswagen Financial Services, a company that offers a wide range of automotive-related services and mobility services, agreed to acquire a minority stake in Bike Mobility Services, a company focused on developing sustainable and affordable bicycle mobility solutions for both employers and employees, from Pon Holdings, a Dutch conglomerate in the transportation sector. Financial terms were not disclosed. "Our partnership with Pon is another important step in our development into a broad-based mobility services provider, thereby supporting the strategic goals of the Volkswagen Group. There is great potential in bike leasing as an additional profit pool, which perfectly complements our current mobility portfolio. We are thus systematically expanding our service offering for commercial customers and supporting our long-term growth in the European fleet business. We are determined to fully exploit the strengths of Europe's leading automotive captive company and the world's leading bike company," Christian Dahlheim, Volkswagen Financial Services Chairman.