The new division is a response to the rising popularity of business models including short-term rental, vehicle-as-a-service and vehicle subscription. The division will have four business solution areas; fleet services, fleet operations, EV battery solutions and emerging ventures.
The division, Cox Automotive Mobility, aims to guide the growth of mobility-focused digital and physical services, product development and investments in the US, UK, continental Europe, Canada and Mexico “with additional geographic expansion planned in the future”.
Cox said the division would service OEMs, automotive dealers and mobility and fleet providers.
It comes after 12 months of strategic acquisitions by Cox including EV battery management service provider Spiers New Technologies and specialist workflow technology business, FleetMaster.
Cox Automotive president Steve Rowley said 2021 was “a landmark year”.
“Now we have built the global tools and engine to power our clients’ growth across borders, enabling dealers, automakers and fleet customers to capitalise on business opportunities only Cox Automotive can provide within our fully-integrated global mobility architecture,” he said.
“As our partners race toward an ever-changing mobility future, we’ll be there to lead them.”
Cox Automotive Mobility will use the expertise of its new acquisitions. It said that as international governments legislate to end internal-combustion engine production and aim for net-zero emissions “the question of electric battery lifecycle management will only intensify”.
“Cox Automotive Mobility’s EV Battery Solutions is set to play an important role in addressing these environmental challenges, including pre-treatment battery recycling services,” the company said in a statement.
“Furthermore, with the health of EV batteries in a growing global EV parc undoubtedly influencing future remarketing values, Cox Automotive’s battery health diagnostic tool built in partnership with Spiers New Technologies will become the third-party, industry standard to assess the condition and value of EV batteries.”
Cox said changes in vehicle ownership and vehicle use were driving new business models, including short-term rental, vehicle-as-a-service and vehicle subscription.
“Bolstered by FleetMaster capabilities, the Cox Automotive Mobility platform enables fleet and mobility owners and operators to pivot and adapt their products and services to meet the needs of this ever-changing marketplace; a game-changer for the market,” the company said.
Cox Automotive Mobility is headed by president Joe George, who will oversee operational strategy for the division. Mr George will continue to run US operations.
Cox has also appointed Paul Humphreys as managing director of mobility, Cox Automotive International, to oversee strategy, execution and operations outside the US.
“The opportunities for organisations operating in fleet and consumer transport are limitless,” said Mr George.
“By combining the scale and expertise of one global vision, with bespoke market-led data and insights, we are enabling a safer, cleaner and more connected transportation ecosystem with operational efficiencies that can be realised for our partners worldwide.”
Mr Humphreys said: “More consumers are choosing to use vehicles as and when they need them as opposed to owning them outright.
“The definition of ownership is being redefined, enabled by ever-evolving finance and lease models. Through Cox Automotive Mobility, we are empowering our customers and partners in the UK and Europe to take advantage of the opportunities the mobility landscape has to offer.”
By Neil Dowling
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