Hyundai and Revv to work together in the expanding field of car-sharing services in India.
Hyundai Motor India Limited (HMIL) has joined hands with Revv, an Indian self-drive car-sharing company, to develop an innovative car-sharing service and conduct creative marketing activities in India. Through this strategic partnership, Hyundai will gain its first foothold in the Indian car-sharing market. It will also allow both, Hyundai and Revv, to build competency and the technology necessary for leading the future mobility market in India. Based on recent studies, the number of car-sharing vehicles in India is expected to grow from 15,000 in 2018 to 50,000 by 2020 and 150,000 by 2022. This provides plenty of growth opportunities to such collaborations.
Besides working on new technology, Hyundai will also work on exploring 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 Hyundai to showcase its vehicles to the Indian consumers in more diverse ways.
Sharing his thoughts on this tie-up, Anupam Agarwal, Co-Founder of Revv said, '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'.
'Hyundai Motor is a household name in India and we are delighted to have them join us on our journey. With their 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.
What's interesting here is the fact that millennials, who are the key users of car-sharing services, comprise nearly 35 per cent of the total Indian population. Thus, the market growth potential of mobility services in India is among the strongest in the global market.