Audi to buy out car hire startup Silvercar  

Just this week Audi has offered to buy out US car rental firm, Silvercar. Operating in 15 US cities, Silvercar exclusively hire out silver Audis from various airports, founded back in 2012. Audi’s interest in the firm comes as they brand seek to expand their presence in mobility services, wanting to use Silvercar’s software to help with car-sharing projects.

While both companies have refused to make comment on the size and details of the purchase, we can only imagine the type of numbers involved here.

Having already invested $28m in the startup during their third finding round, Audi has obviously identified growth opportunities, seeing synergy between the firms and how they can benefit from being under one roof.

Wanting to join Google and Uber as leaders in transport technology, Audi’s visions are pretty clear.

Luke Schneider, Silvercar chief executive, said the car market is “on the verge of the most profound changes in the 120-year history of modern personal transportation.”

Already experimenting with two car-sharing concepts, Audi shows no interest in the rental side of the business, simply wanting to grow the tech that supports the brand. Promising to develop the ‘Airbnb for cars’ could this acquisition put Audi at the forefront of the industry?