Revv, the Delhi-NCR based shared mobility platform, is launching SWITCH (which goes live on May 19th), a unique and innovative service that lets users subscribe to a curated fleet of cars, by-the-month or by-the-year. Revv claims that this is the first ever, multi-brand car subscription platform in Asia, and is essentially an attempt to re-imagine the 100-year old practice of car ownership. Revv raised its Series A round of funding in November 2016 from Edelweiss Private Equity, and since then, have added Mumbai, Pune, Chennai, Jaipur and Vishakapatnam to their geographical footprint.
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.
This is relevant for anyone who is looking for a solution without long-term commitments and hassles. It could be an IT professional who spends most of his time onsite and needs a car only for the few months when he is home, or a group of friends wanting to share a car and split subscription costs, or someone on a temporary assignment in a new city, or someone who just does not want to stay stuck with one car model for several years.
“Sharing a subscription is more practical than sharing one’s own car, and we see strong potential in that. For the Phase 2 of this, we will develop an app to help a user share his car with friends/neighbours when not in use, to substantially reduce his monthly expenses. The app will enable easier discovery of potential sharing partners and a smoother sharing experience”, added co-founders of Revv.
The fleet will include a wide range of models, including MUVs, SUVs, cross-overs, sedans and hatchbacks.
Switch being a bold and creative platform, can have significant implications for both consumers and car-makers. For consumers, owning a car could become a matter of ordering it over an app, minus the hassles of maintaining it, and with lesser fixed expenses. For car-makers, this can be an entirely new source of volumes and revenue, because it fills a gap that was not being addressed by traditional car ownership. Having nearly tripled its fleet and geographical presence in the last five months, Revv now intends to expand its product portfolio to address needs and use cases of shared mobility that are not being addressed by any other available products.