Tourism Vehicle Rental News
- In January 2022, ekar, the Middle East's mobility company, launched its operations in Thailand starting with Bangkok and with plans to expand into other countries. ekar is launching its proprietary car subscription service which offers cars from one to nine-month terms for a single monthly subscription cost with no down payments or long-term commitments via the ekar app.
- In December 2021, Volkswagen announced plans to acquire Europcar in France and launched USD 3.4 billion. The acquisition will be handled by Green Mobility Holding, a dedicated vehicle of which Volkswagen will own two-third.
- In November 2021, Hertz rentals partnered with Tesla Motors, to supply 100,000 Model 3S by 2022, and news that half of these vehicles are expected to be rented out to Uber drivers.
- In July 2021, Key'n Go, which is operated by Goldcar, the low-cost brand of Europcar Mobility Group allows customers to benefit, at scale, from a 100% digital, safe and fast solution to book, pick up & return their vehicle in 35 key leisure airports in Southern Europe
- In February 2021, Theeb Rent a Car, a Saudi-based car rental company extended its car rental fleet in the Kingdom. The company has added more than 1,700 cars from luxury brands such as BMW, Mercedes, and also economic models such as Chevrolet, Kia, Ford, Nissan, Toyota, and Hyundai, including the new 2021 models.
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- March 2024: BMW's financial arm partnered with CRIF to introduce open banking services in the United Kingdom, targeting prospective car buyers. The collaboration aims to streamline auto financing across all UK retailers, enhancing BMW's financial arm's access to crucial creditworthiness data.
- February 2024: Banking and Payments Federation Ireland (BPFI) highlighted a significant upsurge in car loan values during Q3 2023. This surge was primarily attributed to Irish consumers' growing preference for electric vehicles. Notably, the number of car loans in Q3 2023 reached 14,994, marking a 25.5% increase over the same period in 2022. Consequently, the total value of these loans hit Euro 189 million (USD 204 million).
- January 2024: Bumper, a fintech platform specializing in flexible payment solutions for car repairs, secured USD 48 million in its Series B funding round, spearheaded by Autotech Ventures. Bumper's unique offering provides drivers with interest-free payment options, easing the financial burden of sudden repair expenses.
- February 2024: To provide financial assistance, inDrive, a ridesharing platform, collaborated with the financial technology firm R2 to offer loans and credit cards to its drivers in Mexico. To facilitate this, inDrive collaborated with Mastercard and other local fintechs like Giro and Galileo.
- July 2023: Hoop Carpool, the shared mobility startup, raised USD 1.3 million in investment funds in a round led by Ship2B Ventures through BSocial Impact Fund, with additional support from Banco Sabadell, FEI, AXIS, and 4Founders Capital.
- June 2022: International Finance Corporation (IFC) invested USD 15 million in BlaBlaCar to support the shared-travel platform's growth in Mexico and Brazil.
- February 2024: Sime Darby Auto Bavaria entered into a partnership with Sime Darby Rent-A-Car (SDRAC) - Hertz Malaysia to introduce luxury electric cars for rental service. This collaboration enabled the company to enhance its vehicle fleet and extend its car rental offerings nationwide.
- November 2023: Green Motion, an international brand in the car rental industry, announced a significant achievement in its global expansion plan. The expansion was facilitated by a master franchise partnership with Lokman Hakim Ibrahim, an enterprising and independent entrepreneur with expertise in the car rental sector.
- In March 2024, Alphabet's autonomous driving division, Waymo, introduced its ride-hailing service, Waymo One, in Los Angeles, California. The service is being offered to the public for free, and this decision was made after the successful completion of the Waymo One Tour program that the company initiated in the city.
- In February 2024, Zoomcar and CARS24 formed a strategic alliance to provide enhanced assistance to local car-sharing hosts. As part of this collaboration, Zoomcar will aid hosts in expanding their vehicle fleets and increasing their potential earnings by offering support with purchasing cars and flexible financing options.
- March 2024: Hype, a luxury traveler company based in Bengaluru, India, extended its luxury car rental services nationwide. With this expansion, the company broadened its offerings, providing compelling rates for premium car rental services throughout the country.
- January 2024: Sixt, a premium mobility service provider, entered an agreement with Stellantis, a leading automaker. As per the agreement, Sixt has the option to purchase up to 250,000 vehicles over the successive three years for its rental fleet in corporate countries across Europe and North America.
- In April 2024, Verizon Communications Inc. unveiled new GPS tracking software explicitly designed for stolen vehicle recovery. This innovative technology aims to provide vehicle owners with enhanced security and peace of mind.
- In April 2024, Netstar, a subsidiary of Altron Limited, introduced a cutting-edge real-time vehicle fleet telematics bureau in Africa. This innovative bureau is designed to cater to Netstar’s growing commercial fleet customer base and support its emergency contact center and vehicle recovery operation.
- In February 2024, Nissan Motor Company introduced a stolen vehicle tracking function to its customers through the NissanConnect Services app in the United Kingdom.
- February 2024: The Hanoi Transport Department unveiled its plan to operate an exclusive bicycle lane along the To Lich River. The goal is to encourage consumers to use bicycles for short-distance travel, which can help reduce traffic congestion in the city. The 3 m bicycle path was explicitly developed for riders only, allowing non-electric bicycles to operate in the space. The transport department plans to expand its route to adjacent bicycle lanes along the To Lich River. Formulating dedicated bicycle lanes helps increase the demand for bicycle-sharing services nationwide.
- June 2023: The United Nations Development Programme (UNDP) collaborated with the Vietnamese Ministry of Transport, the SolutionPlus project (Viet Nam component), and Thua Thien Hue province organized an event to raise awareness on the effectiveness of operating an electric-bicycle sharing model in the country. The workshop aimed to garner experiences of bicycle-sharing platforms in other cities worldwide and disburse knowledge for formulations of better business models.
- May 2023: The Vietnamese Administration of Technical Infrastructure announced the launch of a technical guideline for bicycling infrastructure design specifically for urban areas. These guidelines were launched in collaboration with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, World Resources Institute (WRI), and HealthBridge to draw experiences from case studies of successful cycling infrastructure built around the world to promote the adoption of environmental-friendly medium of transportation. Guidelines such as this will facilitate the formulation of cycling paths across Vietnam, providing a lucrative opportunity for bicycle-sharing service providers to integrate.
- December 2023: CarDekho announced its merger with Revv, an Indian-based mobility service provider, to venture into India's shared car rental services business by combining the expertise of Car Dekho in technological integration and market understanding of Revv. These two companies aim to disrupt the car rental space in India by facilitating a tech-enabled mobility solution to enhance customers' convenience.
- July 2023: Bolt, a ride-hailing platform operating in the United Kingdom, announced that it had over 100,000 drivers and 9 million passengers registered across 19 cities. Moreover, the company stated that it had surpassed 150 million customers globally across 500 cities and 45 countries.
- July 2023: inDrive, a bid-based ride-hailing platform, launched its services in South Florida, United States, to tap into the country's massive potential. The company plans to replicate its success in the Latin American market in the United States, which resulted in the company preparing for this expansion strategy. Further, the company is planning to launch its services across 15 cities in Nigeria.
- February 2023: Joining the burgeoning electric two-wheeler space, Bengaluru-headquartered electric mobility platform Yulu Bikes Pvt Ltd, in partnership with Bajaj Auto Ltd, launched two new electric 2-wheelers (e2Ws), namely Miracle GR and DeX GR.
- December 2022: The Karnataka Transport Department announced its decision to issue a license to Wicked Ride, the parent company of Bounce, to operate electric bike taxi services in the state.
- June 2023: Yulu's signature small, blue-colored signature rental electric bikes (e-bikes) are gaining traction in the most prominent localities of Bengaluru, Delhi, and Mumbai. The electric mobility startup launched a new low-speed e-bike model, Yulu Wynn.
- March 2023: Voi Technology secured an additional USD 22.8 million in funding to extend its e-scooter services across Europe. This investment will support Voi's plan to increase its fleet and enhance its offerings in urban mobility solutions.
- September 2023: Bird expanded its market presence in the electric scooter rental industry by acquiring Spin from Tier Mobility for USD 19 million. This move is intended to strengthen Bird’s operational capabilities and market reach.
