South Korean car sharing startup SoCar will establish an overseas branch in Malaysia for the first time among other Korean car-sharing businesses, accelerating the push to expand its presence in the Southeast Asian market.
SoCar is planning to build car sharing infrastructure, including 120 SoCar zones with 240 automobiles in the Southeast Asian country, before kickstarting car sharing services in the country.
Malaysia has a high growth potential as it is highly populated in city centers, like Seoul is. Moreover the company will be able to easily manage its automobiles in Malaysia, where people frequently share cars and whose environment facilitates the management of the cars. SoCar thinks the country can be a bridge between Europe and Asia, and will help the company to expand its overseas presence further in the future.
Drivers can use SoCar services in Malaysia as in Korea without reservation after joining membership. They cannot use Korean SoCar application and and account, but Malaysian ones. Another difference is Malaysian drivers should pay for membership fees (50RM, about 13,000 won). The Malaysian service has an upside compared with the Korean’s. Malaysian users won’t be charged with additional fees for non distant trip, as a hourly rental includes gas up to 15km. Malaysian citizens as well as anyone with an international driver’s license can use SoCar services in the country.
The car sharing company will add compact cars, midsized vehicles and luxury cars to its lineup, and expand SoCar zones, depending on local demands. The company will also provide ‘long-term sharing service’ for Malaysian members to use its service for long.