Following the recent $300m (£237m) acquisition of car-sharing platform Drivy, Motor Finance spoke with founder and chief executive Paulin Dementhon about the changing face of car ownership, and what the acquisition means for the company.
Motor Finance: How does the Drivy app work?
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Paulin Dementhon: The entire process is managed through the app. Customers just create an account, find and book a nearby car and verify their profile.
Many of Drivy’s cars have Open technology which works together with the app. It is a small telematics device that allows customers to access the car without the key or meeting the owner.
As part of the trip, 100 miles per day are included, with any additional miles and difference in fuel level charged at the given price at the end of the trip.
MF: Why do you think customers are looking more to alternative options to car ownership?
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By GlobalDataPD: Cars are becoming increasingly expensive, cities are becoming congested and air pollution is getting worse.
For most people, it does not make sense to own depreciating assets that cause all these issues, while simultaneously costing a substantial amount in time and money – whether that’s for parking, maintenance or repairs. It’s not sustainable for the environment, nor for our health.
Car sharing is an efficient solution for people who may not need a car regularly; to rent a car from someone else who needs one more often to help reduce the cost of ownership, while ensuring better utilisation of the asset.
MF: How do you see the mobility-as-a-service market developing in the coming years?
PD: Transport will – and needs to – become more focused on the person and their travel needs, because people will always take the way that is the most convenient. There is already increased awareness that current transport behaviour and high dependency on cars are not sustainable for our health or the environment.
Drivy believes innovation will focus on providing suitable solutions that will encourage reasonable, convenient and sustainable behaviour change
MF: What challenges have you faced in getting Drivy off the ground?
PD: For the past decade, people have been car sharing through services like Drivy. So the greatest challenge isn’t getting people to car share, but actually getting them to give up their personal cars and trust a brand to safely and easily provide a car for them.
In particular, Drivy’s challenge in the UK was promoting a new brand and gaining trust in a new market, particularly when there were other more established brands already operating.
Insurance and protection are the chief concerns of UK users, so Drivy has to place more emphasis on promoting messages around trust, safety and the work done with partners to address these concerns.
MF: How did your partnership with Allianz come about?
PD: Drivy and Allianz have been working together for a number of years, and Drivy chose to work with Allianz as it is one of the main insurance leaders in the sharing economy space.
Every rental is fully insured by Allianz. This is thanks to an excellent partnership and a global contract developed together to cover all the markets that Drivy operates in.
Working with Allianz has allowed Drivy to create a tailor-made service suitable to the needs of Drivy’s users and the business.
MF: Drivy was recently acquired by US firm Getaround. What will that mean for the future of the company?
PD: The Drivy and Getaround teams are working together to integrate the operations, technologies and services.
Externally for now, Drivy will continue operations in Europe with the company’s apps and services unchanged, but in the next few months, Drivy will change its name and brand to Getaround. In time, the companies will transition to one global app, allowing people to book cars in the US, Europe and possibly other regions in the future.
MF: What are the Drivy’s plans for expansion?
PD: Drivy’s plans for the UK are to continue to increase its presence in London, and optimise the service to ensure that all connected cars are always nearby and convenient enough for people in London.
Drivy is building up its service so there are several cars within five minutes’ walk of any person living in a city to easily find and pick up. Now that Drivy has joined Getaround, the company will focus on its ambitious expansion to bring car sharing to everyone around the world. For the UK, this means opening up in new cities and continuing to grow the service in London.
