Press Release

11 July 2023

Volkswagen Financial Services and AMAG Leasing form fleet joint venture in Switzerland

To strengthen the international fleet business

To exploit joint synergies and expand the product range

Braunschweig, 11 July 2023. Volkswagen Financial Services AG and AMAG Leasing AG are extending their collaboration in fleet business operations in Switzerland. As a result, Volkswagen Financial Services AG is acquiring a 50 percent stake in movon AG, a subsidiary of AMAG Leasing AG that focuses on fleet leasing and full-service solutions for business customers. The aim of the joint venture is to expand the range of products and services and to create digital tools for fleet owners and dealers. 

"Our goal is to become one of the largest European fleet providers. To achieve this, we need to offer our customers services of the highest standard in all markets. With the new joint venture, we are underlining our ambitions in this area and will further fortify our position in Switzerland," said Sven Kunath, Senior Vice President Fleet at Volkswagen Financial Services. 

Sergio Calabrese, Managing Director of movon AG, commented: "We are very pleased that we can benefit from the international experience of our German colleagues through the joint venture. Together, we will continue to expand the range of products and services we offer and can align this portfolio even more closely with the needs of modern vehicle fleets." 

Enhanced product and service range and digital tools

One of the main objectives of the joint venture is to enable the further development of digital fleet management and reporting systems along with digital tools for business customers and dealers. Customers, for example, have direct access to their own fleet and can trigger and control actions themselves. In addition, all data on the fleet vehicles, such as cost overviews or consumption, can be called up in real time. Dealers, on the other hand, have the possibility of calculating offers and digitally submitting them to movon AG at the point of sale – without system discontinuities, which ensures a more efficient and faster processing.

v.l.n.r.: Giovanni Luca Carta (Head of Sales & Communication, movon), Salvatore Ragusa (Head of Operations, movon), Anthony Bandmann (CSO, VWFS), Dr. Marc Weilbeer (Controlling Business Partner Direct Fleet, VWFS), Sergio Calabrese (Managing Director, movon), Sven Kunath (Senior Vice President Direct Fleet Europe, VWFS), Fernando Pinho (Head of Strategy & Productmanagement, movon), Thorsten Krüger (Member of the Board of Management, VW Versicherung AG), Christian Hoffmeister (Head of Finance, movon)

Information for editors:

Volkswagen Financial Services are a business division of the Volkswagen AG group of companies and comprise Volkswagen Financial Services AG along with its associated companies, Volkswagen Bank GmbH, Porsche Financial Services, and the financial services companies in the USA and Canada that belong directly or indirectly to Volkswagen AG – with the exception of the financial service business of the Scania brand and of Porsche Holding Salzburg. The key business fields embrace dealer and customer financing, leasing, bank and insurance activities, fleet management and mobility services. Volkswagen Financial Services have a total of 17,713 employees worldwide – including 7,692 alone in Germany. Volkswagen Financial Services report total assets of around EUR 240 billion, an operating profit of EUR 5.60 billion, and a portfolio of around 22.0 million current contracts (as at: 31.12.2022).

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movon AG was founded as a subsidiary of AMAG Leasing AG in 2023. The new company offers a holistic service portfolio that is aimed at both SMEs and large companies. Customer care and support is first and foremost, reinforced by a comprehensive range of services from a single source. In addition to the financial services, which include finance leasing, maintenance leasing and full-service leasing, business customers can also benefit from other services such as fuel card and claims management, charging solutions, and the installation and financing of sustainable energy systems for the corresponding electrically powered fleet vehicles.

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