Toyota has announced the formation of a new mobility services company for Europe.
Kinto Europe, a joint venture between Toyota Motor Europe (TME) and Toyota Financial Services (TFS), will be based in Cologne, Germany, and commence operations in April 2021, managing a growing range of mobility services and products across the region.
While the COVID-19 pandemic has presented automotive businesses and consumers with significant challenges, it has also prompted many people to reconsider their lifestyle priorities. Toyota believes that the opportunities for innovative mobility services today are greater than ever. Demand for smart, flexible mobility is expected to continue to grow, with an increasing shift in emphasis from ownership to on demand usership.
Kinto Europe will offer services such as car subscriptions, car sharing, car pooling and multi modal products, tailored to suit businesses, organisations, cities and private individuals.
Tom Fux, CEO Kinto Europe, said: “We cannot simply follow a defined approach like our competitors or any other mobility player in the market. Instead, we will find our own way, one that utilises our unique advantages and differentiates us in the mobility segment.
“There is no defined roadmap for what we are proposing, we have to build our own strategy drawing on our particular business strengths and capabilities. Kinto is not a single service or product, bound by one location, it is genuinely diverse, so we are building a one stop shop for mobility services, aiming to become the mobility provider of choice for all types of customers.”
The automaker’s European retailer network will continue to play a crucial role. Toyota wants to extend its partnership with retailers to transform them into mobility service providers, building on the strength of its long established business relationships.
Kinto will enable them to go beyond their traditional sales and maintenance of vehicles to offer new mobility services that give customers access to the vehicles they want, exactly when and for how long they require, from their existing premises or other locations to suit customer demand.
The Kinto brand was introduced to Europe in January 2020 and services have since grown in reach and popularity, supported by sustained and reliable investment.
Kinto One is an all-inclusive leasing service that has so far been launched in seven European markets, with more to follow in 2021. It is now an established mid size player in the fleet management market, managing around 100,000 vehicles.
Kinto Share provides a wide range of car sharing services, from corporate to public and residential customers. Currently operating in Ireland, Italy, Denmark, Spain and Sweden, these services will be introduced in additional markets, while a share service is also being designed for launch through the retailer network.
Kinto Flex is a short term, flexible vehicle subscription service, allowing customers to enjoy the full range of Toyota and Lexus vehicles, enhancing the freedom of car ownership by offering access to various car types throughout the year, serving users’ taste and needs – all services and necessary maintenance included.
Kinto Join is a new corporate car pooling solution for employees to create their own private transportation network, launched in Norway and Italy and soon to be delivered in the UK.
Kinto Go, a multi modal aggregator which coordinates journey planning, public transport ticketing, parking, taxi services and events, is already achieving good results in Italy and plans are under way for its expansion in the short term.