By Mauro Orru
Volkswagen is combining the businesses that provide charging and fueling services, bringing them under one roof in a newly created subsidiary to streamline operations.
The German car maker said it was merging Logpay Transport Services, a subsidiary of Volkswagen Financial Services, and the mobility service units of Volkswagen Group Charging. The combination will create Elli Mobility, a new company that will operate as a wholly owned subsidiary of Volkswagen Group Charging as of March.
"This strengthens the crucial business of charging and fueling cards within the Volkswagen Group, reduces redundancies, and allows us to offer our customers everything from a single source in the future," said Anthony Bandmann, chief strategy officer of Volkswagen Financial Services.
The new company will be managed by Joschi Jennermann as chief executive and Sebastian Steffen as chief financial officer.
Write to Mauro Orru at mauro.orru@wsj.com
(END) Dow Jones Newswires
01-15-25 0703ET