SEOUL -- Hyundai Motor stepped up efforts to strengthen its mobility service by forging a strategic partnership with Revv, one of India’s leading self-drive car sharing companies following similar deals with business partners in Singapore and Australia.
Through its partnership with Revv, Hyundai said Monday it would develop an innovative car sharing service and conduct creative marketing activities in India, a fast-growing market. As the only auto company to invest in Revv, the South Korean company will explore ways to provide car sharing products and develop new mobility service platforms for the Indian company.
To nurture mobility services as its new growth engine, Hyundai has unveiled a series of deals and partnerships with foreign companies this year. In January, it acquired a stake in Grab, a ride-hailing and logistics service in Singapore, followed by a strategic investment in Australia's car sharing platform "Car Next Door", a peer-to-peer car sharing platform to offset the cost of owning cars.
Hyundai Glovis, the logistics wing of the auto group, established an integrated logistics research center to develop technologies and new strategies for car-sharing business. The company would develop infrastructure for eco-friendly cars and technologies related to autonomous trucks.
Hyundai Motor also ventured into the last mile logistics market with strategic investments in two promising start-ups -- Chinese e-scooter maker Immotor and Mesh Korea, an IT-based logistics startup which established South Korea's first last-mile logistics network -- to develop smart delivery solutions. The auto group aims to introduce innovative technologies such as unmanned delivery vehicles by combining smart car technologies such as autonomous navigation.
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