Sat01202018

LAST_UPDATESat, 20 Jan 2018 10pm

South Korean Car Sharing Startup Taps Malaysia

SEOUL -- South Korean car sharing startup SoCar said Wednesday it will launch its business in Malaysia as its first overseas expansion move, South Korea's Yonhap news agency reported.

SoCar, a leading player in the country's car sharing industry, is planning to establish 120 zones with 240 automobiles in the Southeast Asian country, it said.

Members who sign up for the service can preview the cars available and the associated outlets through online devices.

Unlike regular services that rent a car by the day, the car sharing service rents cars by the hour, with insurance coverage included.

Malaysia has a high growth potential for the new industry as it is highly populated in the city centers, the company said, adding it will accelerate the push to expand its presence in the Southeast Asian market.

-- BERNAMA