By Jessica Sier

Volkswagen AG will invest in used-car platform heycar, its financing arm Volkswagen Financial Services said Friday.

The German car maker will invest in heycar's parent company Mobility Trader Holding GmbH to assist the company's European expansion, Volkswagen's subsidiary said.

Heycar was started in Germany in 2017 and lists 450,000 vehicles on its German platform and 160,000 vehicles in the U.K., Volkswagen Financial Services said.

The company didn't comment on the financial terms of the deal.

Write to Jessica Sier at jessica.sier@wsj.com

(END) Dow Jones Newswires

February 28, 2020 06:16 ET (11:16 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
Volkswagen (TG:VOW)
Historical Stock Chart
From Aug 2024 to Sep 2024 Click Here for more Volkswagen Charts.
Volkswagen (TG:VOW)
Historical Stock Chart
From Sep 2023 to Sep 2024 Click Here for more Volkswagen Charts.