Volkswagen pours $300 million into Gett's ride hailing service

It's a bet on the future of self-driving cars.

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Sean Gallup/Getty Images
Sean Gallup/Getty Images

Ford and GM aren't the only big car companies getting cozy with the on-demand transportation industry. Volkswagen has made a $300 million investment in Gett, one of the bigger ridesharing outfits in the world (particularly in Europe). The two are working together to expand on-demand ride services. For VW, this is the "first milestone" toward becoming a top-tier mobility service provider by 2025. The firm doesn't expect this to be its only partnership, but it's an important one.

VW also isn't shy about one of the long-term goals for this deal: self-driving cars. Gett's AI- and prediction-driven approaches to getting you a ride represent a good "foundation" for a driverless on-demand service, VW says. As with other alliances like this, the two companies are preparing for the day when you're more likely to hail a car than own one.

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