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Hyundai Plans Car-Share Service in South Korea
Hyundai Motor Co. and Hyundai Capital expect to debut a car-sharing service in South Korea in April that will feature mostly Ioniq electric sedans.
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Hyundai Motor Co. and Hyundai Capital expect to debut a car-sharing service in South Korea in April that will feature mostly Ioniq electric sedans.
The country’s car-share market—which enables customers to pick up and drop off short-term rental cars at selected locations—has multiplied from 600 million won ($525,000) in 2011 to 180 billion won ($157 million) last year, according to Hyundai.
Hyundai Motor’s role in the unnamed venture will be to market the service and supply it with EVs and eventually other models. Hyundai Capital will operate the service platform. The partners say they have not finalized the size of the venture’s fleet or where in Korea the service will be launched.
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