Metamobility

Volvo launched its latest electric vehicle (EV) in the metaverse this summer. Conceptualized by a consortium of WPP agencies, the “Volvoverse” hosted Volvo India’s launch event for the rechargeable XC40. The event took place in the metaverse as a way to echo and highlight Volvo’s sustainable ethos. “The metaverse launch also contributes to our sustainability mission as it leaves a negligible carbon footprint as compared to conventional launches,” explained Jyoti Malhotra, managing director of Volvo Car India.

Also in India, Hyundai took to Roblox in August to launch their latest SUV. The event included educational spaces such as virtual test drives, a virtual showroom, and a virtual service center service center, alongside social gaming elements including a mini game, photo booth and treasure hunt.

Ford is preparing to enter the metaverse with the filing of 19 trademarks across its brands that cover virtual cars, trucks, vans, SUVs and clothing for its brands and also cover a proposed online marketplace for NFTs.

The metaverse market for the automotive industry is projected to grow from $1.9 billion in 2022 to $16.5 billion by 2030, according to a new report. Innovative leaders in the auto industry are looking to capitalize on this growth—rethinking metamobility and traditional consumer touchpoints along the way.