Cox Enterprises Inc. is speeding into another venture, with the formation of a new business division inside its automotive subsidiary.
The Atlanta-based company said Monday that Cox Automotive is leveraging its recent acquisition of Clutch Technologies to create Mobility Solutions Group, which is focused in part on “mobility as a service.”
Joe George, who previously served as the interim president of the Media Solutions Group, will be president of the new group. His team will include: David Liniado, vice president of new growth and development; Jenny Bedard, head of finance; and Vince Zappa, president of Clutch Technologies.
“We’re looking forward to helping clients disrupt the traditional car buying and ownership models in ways that are advantageous for their businesses,” George said in a news release.
Clutch Technologies was invented and incubated as part of Cox Enterprises’ Innovation Fund and has been added to the Cox Automotive family of brands. The consumer-focused subscription platform has relationships with car-sharing and ride-hailing companies such as BMW’s ReachNow, Getaround and Lyft. It joins other Cox investments in “new mobility,” such as Ridecell, Getaround, and Flexdrive, a vehicle subscription technology and services company Fox Automotive created in 2014.
is a technology platform that powers subscription access for the automotive industry. Subscription access is now available in 26 states across the U.S. through Clutch’s growing roster of partners including BMW, Mercedes-Benz and Porsche as well as approximately 30 dealer groups. Clutch was one of the first to offer the ease and accessibility of vehicle subscriptions in 2014.
Cox Automotive President Sandy Schwartz said mobility as a service is a massive business opportunity, with some estimates in excess of $1 trillion by 2030.
“Our goal is to grow our presence in that part of the business and help all our partners and clients successfully navigate the many new opportunities,” Schwartz said.
Cox Enterprises, by far Atlanta’s largest private company, is exploring multiple new revenue routes as it looks to sell portions of its media empire. That includes buying into the eSports revolution, partnering with Province Inc. to create Atlanta Esports Ventures in the popular Overwatch League, with the Atlanta team joining the fold for the 2019 season.