Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Yandex To Launch Car-Sharing in Europe – FT


Russian tech giant Yandex is planning to launch its car-sharing service in Europe, the Financial Times has reported.

The head of Yandex.Drive, the company’s car-sharing division, Anton Ryazanov, told the paper it would roll-out the service with a 1,000-strong fleet of electric cars later this year.

Yandex has not yet decided which city it will expand to first, but Ryazanov said Madrid and Copenhagen are the front runners. Cities in France and Italy that have introduced policies to support electric vehicles are also likely contenders.

Yandex claims to have the largest car-sharing fleet in the world at 21,000 vehicles, and its Moscow operation far surpasses what European rivals have been able to offer in any single city in terms of size, penetration and success. 

Since car-sharing launched in 2015, the Moscow city authorities have been vocal supporters of Yandex.Drive and the eight other car-sharing operators in the Russian capital, promoting car-sharing as a way to reduce Moscow’s infamous congestion. It predicts the combined fleet of car-sharing operators in the capital will pass 30,000 this year. 

The Financial Times said Yandex’s push into Europe comes as Western efforts, led by car manufacturers, to crack the car-sharing market stall. Ford recently sold its short-term car rental business and General Motors withdrew from several cities last year. ShareNow — a German joint effort led by Daimler and BMW — has around the same size fleet as Yandex, but is spread across 26 cities in Europe and North America.

Ryazanov also said he expects Yandex’s car-sharing arm to become profitable “in a few years.”

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more