The procedure of purchasing a vehicle, although painstaking, has sweet praise on the cease. The toddler-like anticipation that builds up as one waits to transport their new car can only be matched by the fun of lengthy drives with buddies and their own family. That pleasure makes all of the studies and planning earlier than shopping for an automobile worth it. And that’s likely why, within customers’ minds, the automobile condominium marketplace is drab and uninnovative.
Unfortunately, this euphoria changed into ephemeral for entrepreneur Aishwarya Singh and his flatmates, who sold a vehicle by pooling their savings and securing a car loan. Just beneath a month of buying it, their latest vehicle met with a horrible accident and became damaged past restore. To make matters worse, the insurance organization declined to cover the damages as the opposite birthday party did not have legitimate vehicle coverage. That’s while a sad reality dawned on them; although the car became long past, they could have to hold paying the EMI for the subsequent three years.
They realized that none of them used the automobile drastically and frequently stayed in the parking spot as they contemplated their plight. Plus, the struggles of proudly owning and maintaining an automobile in a metropolis like Mumbai ways handed its application quotient. That’s while Singh started out mulling the idea of ways wherein Indians ought to use a vehicle without owning it. He believed that India had the right conditions to create a thriving car condominium market and began working on a project that would provide customers with the joy of proudly owning an automobile without all the fuss involved. He speedy roped in his college pals Hemant Kumar Sah, Amit Sahu, and Vasant Verma to launch JustRide.
It took a year of cautious deliberation earlier than JustRide took off in Powai, Mumbai. Shortly after, the crew brought in Abhishek Mahajan, working with PwC India, as a cofounder. To start with, they leased a fleet of 8 motors from a company in Delhi. In 2017, the company rebranded to Drivezy and pivoted from being an aggregator to a see-to-peer vehicle and bike-sharing market.
The A To Z Of Drivezy
Founded in August 2015, Drivezy offers a platform that caters to customers at each end of the spectrum i.E. Vehicle proprietors and experience-seekers. Ride-seekers can rent vehicles, motorcycles, and scooters on a self-drive foundation. The owners listing their cars on Drivezy’s platform, and customers can choose the car and an appropriate apartment plan to keep with their needs. From owners, Drivezy micro-rentals cars and rents them to seekers, thereby supporting owners earn a little cash. This platform is called JustConnect, and owners can tune their earnings and charges in actual-time using the JustConnect app. However, as in keeping with the rent agreement, proprietors must list their automobiles with JustConnect for at the very least three years.
While it commenced with four-wheeler rentals, sensing the rising demand for 2-wheelers from its clients, in 2017, Drivezy added motorcycles and scooters as nicely. According to Singh, this proved to be a high-quality move for the company because it witnessed an incredible surge in demand. Driveby has additionally launched weekly and monthly subscription plans to meet this demand and preserve customers. This service has received a reputation amongst students, young specialists, and transport executives, Singh stated.
In Hyderabad, drivers of bike-taxi platforms like Ola and Rapido are renting two-wheelers from Drivezy’s platform and using them to earn money. To open up micro-mobility revenue, Drivezy piloted a ‘final-mile rental provider in collaboration with Hyderabad Metro Rail Limited. It rents out motorcycles to metro passengers on a pay-by means of-the-minute foundation. It plans to launch a similar provider in Nagpur, with a fleet of electric automobiles exclusively.
