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Hyundai Revs Up Car-Sharing Efforts in India
Hyundai Motor Co. says it has made an unspecified investment in Revv, a three-year-old car-sharing company based in India.
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Hyundai Motor Co. says it has made an unspecified investment in Revv, a three-year-old car-sharing company based in India.
As part of the deal, Hyundai will supply vehicles to Revv and work with the car-sharing company to develop new services and marketing strategies. The partners expect India’s car-sharing market will grow from about 15,000 vehicles today to 50,000 in 2020 and 150,000 by 2022.
Revv, whose formal name is PrimeMover Mobility Technologies, currently operates in about a dozen major Indian cities. The company delivers vehicles directly to consumers, who can rent them by the hour or day.
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