Cox Automotive has announced the formation of a new business division: Mobility Solutions Group. This move by the company aims bringing together its investments and solutions supporting the future of mobility under a new business division.
The company for years has been investing in technology and services that position the organization to deliver advanced fleet management solutions and support evolving consumer mobility.
The new business division, which is focused in part on mobility as a service, will house these solutions and investments, as well as newly-acquired Clutch Technologies, a technology platform powering subscription access for the automotive industry.
The company has also announced the acquisition of Clutch Technologies, a consumer-focused subscription technology platform. Clutch Technologies was invented and incubated as part of Cox Enterprises’ Innovation Fund. Cox Enterprises is the parent company of Cox Automotive.
The Clutch platform provides the intelligence, capabilities and tools required to deliver vehicle subscriptions, including:
- A white-label solution that extends the customer relationship outside of the showroom and into consumers’ driveways.
- Management of vehicles using Clutch’s patent-pending technology which uses artificial intelligence to assign the right vehicle to every subscriber while maintaining a low ratio of vehicles to paying subscribers, thus keeping costs in check.
- Powerful data on subscribers’ needs and behaviors. The Clutch platform learns, remembers and anticipates what is important to every subscriber in order to build deep, trusted relationships.
- Subscription workflow tools to facilitate easy operational integration and delivery.
Sandy Schwartz, president, Cox Automotive commented on the announcement: “The future of mobility as a service is a massive business opportunity, with some estimates at well in excess of $1 trillion by 2030. Our goal is to grow our presence in that part of the business and help all our partners and clients successfully navigate the many new opportunities.”
Cox Automotive in 2014, created Flexdrive, a vehicle subscription technology and services company. It is also delivering fleet services through relationships with car-sharing and ride-hailing companies such as BMW’s ReachNow, Getaround and Lyft. It has invested in new mobility and autonomous players including Ridecell, a ride-sharing and car-sharing technology platform, and Ouster, a maker of LIDAR sensors for autonomous vehicles and also Getaround.