KINTO is evolving its mobility services brand from a project to a business with the launch of a new mobility company, KINTO Europe. A joint venture between Toyota Motor Europe (TME) and Toyota Financial Services (TFS), KINTO Europe will be based in Cologne, Germany, and commence operations in April 2021, managing a growing range of Kinto 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 be ideally placed to meet these requirements, with services such as car subscriptions, car sharing, car pooling and multi-modal solutions, 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 space.
“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.”
Toyota’s European retailer network will continue to play a crucial role. It is Toyota’s ambition to extend its partnership with its 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 Kinto services have since grown in reach and popularity, supported by sustained and reliable investment.