Car2Drive powered by Driven launches “car subscription” services in Hyderabad1 year ago Saritha Keshamoni
– Company looking to raise USD 100 million to expand the business into new geographies
– Partners with SunRisers Hyderabad, and hands over Mercedes Benz to cricketer Yusuf Pathan and BMW GT to Basil thampi
Bangalore based multi-brand luxury car subscription services company _ Car2Drive powered by Driven _ announces the launch of its operations in Hyderabad today. On this occasion, it has handed over his new Mercedes Benz keys to Indian cricketer Yusuf Pathan and BMW keys to Basil Thampi. Powered by Driven, Car2Drive is a start-up offering car subscriptions as an alternative to the traditional purchase option, which involves taking significant loans. The company has delivered more than Rs 10 cr worth of vehicles till now. Car2Drive powered by Driven today also announced its official tie-up with SunRisers Hyderabad, the IPL franchise team from the city.
As its business model, Car2Drive powered by Driven will be responsible for all the damages, repairs, insurance, etc., while the customer can take their favorite car with no hassles of down payment or registration charges, etc.
Commenting on the launch of services in the city, Mr. Ashwin Jain, MD, Driven, said, “The mobility market is ever changing its character, and new options are emerging by the day. We are expecting to deliver more than 500 vehicles over the next three years. Car2Drive powered by Driven is a revolutionary service in the mobility and cars business that has brought in the unique concept of Ijara finance and subscription model to India. This service will be beneficial to customers who would like to enjoy driving best cars available, yet not be worried about the maintenance of them or not be worried about the long-term loans associated with buying an expensive car.”
“Our operations in Bangalore are a huge success considering the positive response we got from our existing and potential customers. With this success, we are now confident of expanding our operations to Hyderabad and other metros in the country. Car2Drive powered by Driven will be looking to raise USD 100 million from investors to spread our wings pan-India,” added Mr. Kedar, partner Driven.
Car2drive powered by Driven aims to cater to two sets of customers – one the premium, global citizens, high net worth jet setters who can lease and own top-end models of high-value cars; two the aspirational class, who can use them on a subscription basis.
Mr. Mohammed Asif, MD, Car2Drive, said, “Car2Drive is the world’s first multi-brand car subscription service which is poised to cater to two sets of customers. 1) Premium, Global, High net-worth jet setters who can lease and own top-end, high-value cars. 2) Aspiring car-lovers, who can experience sophisticated models of cars on a subscription basis.”
Ms. Neelima Mandava, CEO, Car2drive powered by Driven, said, “In these fast-changing times, customers do not wish to get tied down to a single variant of a vehicle for long! And our car subscription service makes it hassle-free for our customers to subscribe to a model and move on to another at will. Our monthly subscription guarantees warranty, roadside assistance, maintenance, and insurance on a wide range of MUVs, SUVs, crossovers, sedans, and hatchbacks.”