Volkswagen invests $300M in European Uber rival

Volkswagen disclosed yesterday it invested $300 million in Israeli startup Gett, a ride-hailing service similar to Uber and Lyft.

Gett operates in 60 cities worldwide.

“On-demand ride booking is growing rapidly,” Gett co-founder and CEO Shahar Waiser said in a statement. “In that context, Gett provides the Volkswagen Group with the technology to expand beyond car ownership to on-demand mobility for consumers.”

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