By Wright Communications -
29 March 2018
Toyota Financial Services has announced a strategic investment in locally developed car sharing technology as part of its move to become a mobility company and expand its business beyond financing vehicles.
Toyota Financial Services Managing Director, Brent Knight, says
the investment in Wellington-based Mindkin is a small part of a
worldwide mobility evolution.
"Globally, rapid urbanisation, pollution and congestion have
prompted a wave of innovation in transport and new mobility
services," he says.
"Space on roads and in carparks is becoming scarce and
expensive, and current inefficient transport options carry high
costs."
Mr Knight says car sharing is one of a number of new mobility
services being pursued around the world to allow for more
convenient, efficient and flexible travel. Others include ride
hailing, ride sharing, carpooling, car rental and shared autonomous
vehicles.
Mindkin's core technology product, Hourfleet, allows more
efficient sharing of pool cars with a simplified booking service
and vehicle access.
The Mindkin platform gives users of the service the ability to
unlock and start vehicles simply using their mobile phones.
User's access to vehicles will be determined based on the vehicle
they have booked, and their booking time. It's expected this
functionality will make the process of lending, renting cars safer,
more secure and more convenient.
Mr Knight says these types of innovative mobility services could
reduce car ownership for people who do not use a private vehicle as
their main mode of transport.
"By partnering with existing businesses innovating in the
mobility space, like Mindkin, we are able to start market testing
earlier, while combining knowledge and experience in the automotive
space. It also allows for Toyota to be in a position to respond to
changing trends and customer expectations."
Opportunities stemming from the rise of new mobility services
include partnerships with new mobility and technology firms,
investments in mobility start-ups, research and development on
mobility solutions, fleet sales to mobility providers and new
vehicle financing models.