Lynk has sold about 570,000 cars through September. The company plans to expand into other Asian countries and the Middle East to lift deliveries to 1 million vehicles in the next two years. In China, Lynk is following the more traditional route of selling cars. Car-sharing, while popular, has also fallen short on producing attractive returns, and operators have quit a number of unprofitable locations. Subscription-based auto offerings have struggled to turn a profit and several carmakers have abandoned their services, even as drivers welcome more flexibility. The subscription, which can be canceled on a monthly basis, covers 1,250 kilometers (776 miles) of driving as well as maintenance, insurance and taxes.

offers customers in Europe the option to rent vehicles for 500 euros ($578) a month. Lynk, created five years ago by Geely Auto and Volvo Car AB - two carmakers owned by China’s Zhejiang Geely Holding Group Co. “Service providers will be the brands that deliver mobility, and the industry will be the suppliers.” “The concept of owning a car will continue to exist, but it’ll shrink significantly,” Visser said at the opening of Lynk’s lounge-style customer club in Munich. About 95% of them are choosing to subscribe rather than buy a vehicle. Lynk in June started deliveries to seven European countries including Germany, Sweden and Spain and so far has 29,000 customers - more than three times this year’s target, Chief Executive Officer Alain Visser said in an interview. expects to turn a profit from its European business in about two years as more customers than expected are signing up for its car-subscription offering.

(Bloomberg) - Chinese-Swedish automaker Lynk & Co.

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