Hyundai invests in self-drive car sharing brand 'Revv'

Hyundai has announced an investment in Revv - a self-drive car sharing company. Both companies will be working on developing car sharing products and mobility service platforms.

As part of the partnership, Hyundai is planning to supply Revv with cars, which would allow Indian consumers to experience Hyundai vehicles. It also plans to assist Revv with product marketing.

According to Hyundai, 35% of the total population of India use car sharing services. In the past two years, the market has grown from US$ 900 million in 2016 to US$ 1.5 billion in 2018 and is projected to hit the US$ 2 billion mark by 2020. Meanwhile, the number of car sharing vehicles on India roads is expected to grow from 15,000 to 1,50,000 by 2022.