Honda Motor Buys 18% Stake in Mobility

Honda Motor Co. bought an 18% stake in Mobility Inc., a car-sharing service for commuters in U.S. cities with traffic congestion.

Terms weren’t disclosed. Honda supplies autos to closely held Mobility, which runs the service under the Flexcar name from outlets near commuter rail and bus stations in Washington, D.C.; Seattle; and Portland, Ore., Honda spokesman Art Garner said.

Members use the fee-based service to reserve cars and trucks by the hour. Flexcar serves more than 4,000 commuters in the three cities, with a 110-auto fleet. Honda’s investment will help the business expand to as many as 30 metro areas in five years, Flexcar Chief Executive Neil Peterson said.

Flexcar fees range from $35 for five hours to $525 for 100 hours, he said.

Honda’s U.S. business is based in Torrance.