The Renault Group and its subsidiary RCI Bank and Services have invested in Mobility Trader Holding GmbH to help develop the heycar platform.
Heycar is an online used car sales platform that originally belonged to Volkswagen AG and Daimler and was launched in 2017. The platform has been up and running in the UK since 2019 and was launched in Spain last year.
Renault intends to support the launch of the platform in France and says the acquisition will strengthen its presence in the used car ecosystem through a “high quality digital experience”.
For every vehicle put online by Renault dealers, RCI Bank and Services offers financing and services that are tailored to the specifics of used vehicles and the needs of customers.
Luca de Meo, CEO of the Renault Group, said: “We are very pleased about this project with heycar, which in just a few years has developed into an important player in the online sale of used cars. This agreement is in line with the Renault Group’s strategy of adding value at every stage of the vehicle life cycle.
“In line with the Re-Factory – the project to convert the plant in Flins into a dedicated location for the circular economy of mobility – through this partnership we want to strengthen the competitiveness of our sales network across the entire used vehicle value chain: from procurement to After-sales, including reconditioning, marketing and sales of financing and services. “
This acquisition is expected to close in the fourth quarter of 2021.
