Volkswagen’s Heycar sell 20 percent stake to rival Daimler
Updated September 18, 2018
Heycar, a platform for used cars which was started by Volkswagen last year has sold 20 percent of its stake to the auto giant Daimler, Volkswagen said in a statement on 13th Sept 2018
Neither of the two companies has made the purchase public and Daimler is buying shares of the company through a capital increase at Mobility Trader Holding company, the operating company of Heycar in Germany through a subsidiary.
This move was initiated by the company so that it could compete with used car platform in Germany. Mobile.de and Autoscout.24 are the market leader in this segment.
Categories: Automotive News