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Uber to sell its troubled car leasing division to Fair.com

Uber to sell its troubled car leasing division to Fair.com

Uber Technologies Inc. is doing some end-of-year restructuring under its new chief operating officer. The Wall Street Journal reported today that the ride-hailing company has signed an agreement to sell its Xchange Leasing subsidiary to Fair.com, the startup behind the digital auto marketplace of the same name. The anonymous insiders who leaked the acquisition didn’t share the value of the transaction. Uber originally launched Xchange Leasing about three years ago to make veh

China leads the car-sharing market, despite the challenges

China leads the car-sharing market, despite the challenges

The Chinese government is using car-sharing – short-term car rental, usually charged by the hour – to stimulate the new energy vehicle (NEV) market and increase individual mobility efficiency. In June 2017, the central government released draft guidance for the car-sharing industry, outlining some supporting policies. The guidance specified certain requirements for car-sharing businesses, defined their role in urban mobility, and offered high-level support measures, such as p

Volvo, Cadillac and Porsche drive subscription model growth

Volvo, Cadillac and Porsche drive subscription model growth

Carmakers are launching rental services even as peer-to-peer car lending platforms gain traction Once every teenagers’ dream was to have their own car. Now they have an app for that. Volvo, Cadillac and Porsche are among brands that have launched subscription deals this year, as the industry dips its toe in the water of a world of selling services rather than cars. As car ownership begins to wane in some major cities, manufacturers are experimenting with ways of providing tra

Toyota to set up mobility service company

Toyota to set up mobility service company

Headquartered in Tokyo, it will look at new customer needs Toyota Motor Corporation on Thursday made known its intent to merge its wholly-owned subsidiary, Toyota Fleet Leasing Co, with another second-tier arm, Toyota Tokyo Rental & Leasing Co. The new entity, Toyota Mobility Service Co, will become a reality on April 1, 2018. Apart from aiming to strengthen the existing corporate automobile leasing and rental car businesses, Toyota intends to plan and provide new mobility se

Madrid launches car-share scheme with 500 Renault Zoe's

Madrid launches car-share scheme with 500 Renault Zoe's

A fleet of 500 all-electric Renault Zoe will be arriving in Madrid this month in a car-share scheme to cut pollution in the city. This new car-sharing scheme covers a wide area of the Spanish capital, with vehicles provided to customers in the right place at the right time via an efficient smartphone application. Madrid reportedly has the “highest rate of daily car-sharing in Europe” due to the city’s size, population, traffic problems and air pollution issues. The scheme aro

Nissan plans car-sharing service in Japan

Nissan plans car-sharing service in Japan

The service, named e-share mobi, will start in 15 January 2018, and will initially feature the all-new electric Nissan Leaf and the Nissan Note e-Power. YOKOHAMA: Nissan is planning to introduce a car-sharing service in Japan enabling users to experience the company’s advanced technologies in vehicle electrification and intelligence, as part of its Nissan Intelligent Mobility initiative. The service, named e-share mobi, will begin in 15 January 2018, and will initially feat

Lyft Gets $500 Million Funding Boost

John Zimmer, President, Lyft Interview Investors are sinking more money into ride-hailing services company Lyft as the startup captures more market share from rival Uber and pursues autonomous driving. The startup announced Tuesday its recent round of funding has increased from $1 billion of new capital to $1.5 billion. The additional $500 million in financing included participation from new investors Fidelity Management & Research Company and Ontario Teachers’ Pension Plan.

Hyundai expands car-sharing biz with local startup

Hyundai expands car-sharing biz with local startup

Hyundai Motor is expanding its car-sharing venture to tap into the promising industry, by announcing a collaboration with a local ride sharing startup Luxi on Tuesday. Hyundai Motor has invested some 5 billion won ($4.6 million) in Luxi this August and plans to work together on developing carpooling algorithm and platform in search for new business opportunities. The project is undertaken by the firm’s future research and development project called Project Ioniq. Two year

Now New Yorkers can get a new Mercedes-Benz for 47 cents (a minute)

Now New Yorkers can get a new Mercedes-Benz for 47 cents (a minute)

Car2go is adding Mercedes-Benz CLAs to its New York fleet. The Daimler-owned car-sharing service is pushing to capitalize on its fastest growing North American market. Car2go is the world's largest car-sharing service by both members and vehicles. In a push to capitalize on its fastest growing North American market, Daimler-owned car-sharing service car2go just added Mercedes-Benz CLAs to its New York City fleet. Twenty new CLAs are joining car2go's tiny 550 smart fourtwo veh

BMW Group, in partnership with EVCARD, launches ReachNow car-sharing service in China

BMW Group, in partnership with EVCARD, launches ReachNow car-sharing service in China

Today, the BMW Group, in partnership with EVCARD, a Shanghai-based electric car-sharing company under Global Car-Sharing & Rental Co. Ltd., launches its car-sharing service in Chengdu under the co-brand “ReachNow Powered By EVCARD”. The mobility service based in the capital city of Southwest China’s Sichuan province will offer station-based premium electric car-sharing. The debut of ReachNow in Asia marks the BMW Group’s first mobility service offering in the Chinese market,

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