Hyundai and Revv to Launch Subscription Model in India
The pilot project of the initiative covering six cities -- Delhi-NCR, Mumbai, Kolkata, Pune, Bengaluru and Hyderabad -- will commence from this month itself.
Hyundai logo. (Photo: Siddharth Safaya/News18.com)
Hyundai Motor India said it would launch a subscription model initially in six cities across the country as part of its partnership with self-drive car-sharing firm Revv. Hyundai Subscription aims to provide an opportunity to the customers to experience Hyundai product portfolio, with hassle-free ownership, flexibility and limited commitment through subscription-based ownership model. The pilot project of the initiative covering six cities -- Delhi-NCR, Mumbai, Kolkata, Pune, Bengaluru and Hyderabad -- will commence from this month itself.
"This strategic alliance will provide a unique opportunity for today's millennial customers to experience Hyundai's diverse product offerings that blend with their personality," Hyundai Motor India Senior Director (Sales & Marketing) S J Ha said in a statement. With the company's deep understanding of Indian consumers and progressive tech-driven mobility solutions, Hyundai aims to forge a new market for the new-age Indians, he added.
Hyundai had joined hands with Revv last year.
The shared mobility space is evolving at an exponential rate, from USD 900 million in 2016 to USD 1.5 billion in 2018, it is projected to expand to USD 2 billion by 2020. India's 15,000 car-sharing vehicles are expected to grow to 50,000 by 2020, and 150,000 by 2022.
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