By Cecilia Butini

Volkswagen AG said Wednesday that it is launching a subscription model for cars in Germany.

The German car maker said the service, which it has named AutoAbo, will offer monthly subscriptions to its ID.3 and ID.4 vehicles.

The company said that by 2030 around 20% of its revenue could come from subscriptions and other mobility offerings as it transitions from being a car manufacturer to a mobility-services provider.

It added that it would be launching an online leasing and sales option in Germany toward the end of 2021, which would initially be dedicated to ID models and later expanded to offer combustion engine and hybrid cars as well.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

September 01, 2021 05:14 ET (09:14 GMT)

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