- Kinto Europe, a joint venture between Toyota Motor Europe (TME) and Toyota Financial Services (TFS) to open in April 2021, based in Cologne
- New business will manage Kinto mobility services across the region, supporting the progress of Kinto from a mobility project to a mobility company
- Toyota’s European retailer network to play a crucial role in the delivery of new Kinto mobility services, alongside their traditional vehicle sales and repair operations
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.
Building our own roadmap
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.”
Role of retailers as Mobility Service Providers
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.
Diversified Kinto offer across Europe
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.
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, with a fleet of more than 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 Kinto Share service is also being designed for launch through the retailer network.
Kinto Flex is a short-term, flexible vehicle subscription service, allowing Kinto 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.