Volvo Cars has announced plans to set up a new shared mobility business based around Sunfleet, one of the world’s first car sharing companies, which has been operated by Volvo since 1998.

Volvo plans to expand the Swedish mobility business, which currently has around 50,000 subscribers, into new global markets and provide an entirely new range of mobility services. Flexibility, ease of use and personalisation are to be critical success factors.

The Chief Executive of the new business will be Bodil Eriksson, currently Vice President Product, Marketing and Communications at Volvo Car USA and former Senior Vice President Corporate Communications.

Håkan Samuelsson, President and Chief Executive of Volvo Cars, explained the strategy behind the move: “Private car ownership will not disappear, but as a car maker we need to embrace the fact that it will reduce and – more importantly – change. We have a proven and profitable concept in our home market which we intend to leverage as we develop a global concept.”

Håkan Samuelsson concluded: “Today’s notion of mobility and car ownership is changing. By recognising this fundamental and rapid shift in individual mobility behaviour and responding to it, we ensure that Volvo will continue to be relevant in the eyes of the consumer.”