Since its September launch, M—a part of Volvo Car Mobility—already has more than 8,000 customers in Stockholm with an active price plan. While it is too early to draw conclusions about the typical M private customer, among the hundreds of corporate customers participating in the M Business Beta there is a clear trend: a focus urban development.
M differs from traditional car sharing services by way of a newly developed platform that understands customer needs rather than operating simply as a static booking site. This technology enables M to anticipate and meet demand in a new way. The service learns and adapts to different needs, enabling the customer to increasingly feel as if the car is their own—all the while, the car is still available to others as part of a more sustainable model.
This important step to increase the utilization rate per car has not evaded Stockholm’s most promising urban development companies. Among the hundreds of corporate clients who have joined M in the past month, many operate in areas of construction, commercial real estate, administration, housing and architectural firms and other urban development consultants.
“When we share our ambitions to increase the use of a car from 5% of the time to 45%, those who are interested in the city actively engage with us and want to know how it can be achieved. I am extremely pleased that so many of those who are part of building our future cities choose to see the possibilities in what new technology can offer, leading them to choose M,” says Bodil Eriksson, CEO of Volvo Car Mobility.
Smart car sharing is most effective in densely populated urban areas. M’s station-based concept means that private cars or company-owned fleets will be shared, enabling one shared car at M to eventually replace upwards of 10 privately owned cars. This impact creates opportunities for urban developers and municipalities to reclaim and reimagine space, further evolving our cities both in the short term and as part of plans taking shape today that will be realized in the years to come.
“We want the M effect—the free up space in the city—to become a reality. Therefore, we strongly believe in a partnership approach where we collaborate with key stakeholders who can act on this opportunity. The future of urban mobility is complex and new ideas need to be developed that help consumers and businesses alike to change behaviors and offer new solutions for our cities. We see our customer relationships as a partnership in pursuit of a bigger mission,” Bodil Eriksson continues.
These agreements are some of the hundreds of corporate agreements that M has entered into since its launch in September. In addition to companies that come from Sunfleet, many new business customers have also joined M in appreciation of the quality of cars and dedicated customer care combined with the sustainability promise for what smart car sharing means for urban areas.
Volvo Car Mobility is a wholly owned, standalone venture from Volvo Car Group and is a strategic investment to meet new consumer preferences. The development company is located in Stockholm and employs about 100 people. Stockholm also serves as headquarters for the management of the Swedish market company responsible for the transformation of Sunfleet to M. M for private customers launched in late September in Stockholm and Uppsala. A business service is currently available in beta. Continued roll-out of the M concept is scheduled for early 2020. M is available on App Store and Google Play.
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