A shared mobility platform Revv is set to launch its multi-brand car subcription platform called Switch on 19th May. The new platform will allow users to subscribe to a fleet of cars on monthly or yearly basis. The brand hopes to revolutionise the concept of car ownership. Revv raised its Series A round of funding in November 2016 from Edelweiss Private Equity, and since then have expanded to Mumbai, Pune, Chennai, Jaipur and Vishakapatnam.
Switch will allow users to pick any car from a collection of many and use it for a month or a year, or break the deal before the designated time if they like. You could possibly drive around in a new car every month. Such a platform would ease the burden from those who bring home their cars on bank loans. The fleet of cars would include MUVs, SUVs, cross-overs, sedans and hatchbacks.
Speaking at the launch, co-founders of Revv said, “Mainstream adoption of shared mobility will increasingly depend upon an ecosystem of services coming together, which collectively cater to the full set of needs of a person who wants to adopt a lifestyle based on shared mobility v/s traditional car ownership. While some use-cases have been increasingly well-served by cabs and hourly self-drive rentals, there is a clear gap in services tailored towards longer term mobility.
“For users with fast-changing lifestyles, or for users with tactical requirements (say, for a few months), buying or leasing a car is impractical, because of the long-term commitments and hassles involved in purchase, maintenance and resale. Switch aims to change that and fill this gap. It is a subscription service, available by-the-month or by-the-year. It makes accessing a car much more convenient and hassle-free, through what is essentially a ‘no commitments’ relationship.
“The user can get started whenever he wants, without worrying about fixed long-term expense, and switch it off whenever he wants. He can switch between car models as frequently as every month, e.g. using a hatchback for day-to-day usage, while switching to a nice SUV for vacations. He can even maintain his subscription across cities. The upfront expense will also be much lower than buying a car because of no down-payment.”