Audi Invests $28 million On Silvercar, Car Rental Company

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Volkswagen subsidiary, Audi is set to invest $28 million into the next-gen car rental company, Silvercar. Both the companies will work in tandem to develop their fleet of rental Audi cars across the US.

Silvercar is a mobile-focused startup which was founded in 2012 with a fleet consisting of silver Audi models.The Silvercar rental succeeded by simplifying the reservation and payment process through a sophisticated smartphone app. Users can simply scan a QR code on a rental car's windshield to find out the car details.

In addition to multi-million dollar investment, Audi of America President, Scott Keogh will be joining the Silvercar Board of Directors. "Silvercar represents not just the future of the car rental industry, but a vision for the future of mobility," said Scott Keogh.

As the mode of personal transportation continues to evolve, the investment in Silvercar will allow Audi to extend their reach even further and bring forth the concepts into many more markets, applications and products.

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Story first published: Wednesday, January 6, 2016, 11:45 [IST]
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