World : Hyundai Motor teams up with Revv to develop innovative mobility services

The alliance will also involve strategic investment.

Hyundai Motor Company has tied up with Revv, a self-drive car sharing company, to develop an innovative car- sharing service and conduct creative marketing activities in India.

The strategic partnership will also see Hyundai Motor invest invest in Revv.

However, the company did not disclose the investment figure.

India’s 15,000 car sharing vehicles are expected to grow to 50,000 by 2020 and 1.50 lakh by 2022, said a release from Hyundai Motor.

“We are just about to step forward and expand our business into the future mobility with Revv,” said Y. K. Koo, managing director and CEO of Hyundai Motor India.

Hyundai Motor will explore ways to support Revv’s car sharing service, including the supply of car sharing products, the development of new mobility service platforms, and product marketing. “This will allow Indian consumers to experience Hyundai Motor’s vehicles in diverse ways,” it said in a statement.

“The mobility industry is going through a dramatic shift globally, with the bulk of the innovation still to come. We want to be at the forefront of creating innovative solutions that can meaningfully shape this shift, and Hyundai Motor will play a crucial part in this mission,” said Anupam Agarwal, co-founder at Revv.

“With their (Hyundai Motor) deep understanding of Indian consumers and their progressive stance on tech-driven mobility solutions, this partnership will bring us closer to achieving our vision in the mobility market,” said Karan Jain, co-founder of Revv.

Founded by ex-McKinsey executives, Anupam Agarwal and Karan Jain, in July 2015, Revv is one of the largest car sharing platforms in India. In the past three years, it had grown to 11 cities, serving more than 3 lakh users.

 

Source : https://www.thehindu.com/business/Industry/hyundai-motor-teams-up-with-revv-to-develop-innovative-mobility-services/article24737317.ece

Smart Grid Bulletin November 2018


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