Revv Cars is an Indian self-drive mobility start up funded by Hyundai and others. The company was founded by Anupam Agarwal and Karan Jain in July 2015 and started its operation in Delhi-NCR.[1] Through Revv, customers can rent a car up to a period of 4 years.[2] Apart from renting for specific number of hours or days, the company also let customers rent for one-way journeys.[3] The company operates with a standard hub model - where there is a hub of cars from where the vehicles are dropped to the customers. The company staff is able to come back to the hub with the help of a foldable electric scooter which is stored in the boot of the car.[4][5] The company had stopped its services during the initial lockdown for few months and resumed later.[6] Apart from acquiring vehicles directly, the company also works on a crowdsourcing model in which individual would buy a car on a 10% down payment and register it with Revv. Revv pays a fee to the individual that is equal to the monthly installment to pay the loan which is usually for 4 years.[7]
Partnerships
Revv has partnered with Mahindra and Hyundai to offer their car on subscriptions models that allow the vehicle to be kept for longer duration.[8] In this partnership, Mahindra sold the cars to Revv and not to its usual dealers. Further, Revv offered the cars to its customers on a subscription and covered the maintenance costs.[9]
Philanthropy
Revv offered free cars to healthcare workers during the COVID-19 pandemic in Delhi, Bengaluru, Mumbai, Chennai and Pune.[10]
Criticism
Consumer review portals like Mouthshut and Trustpilot reported reviews of customers calling it risky.[11][12] Complaints regarding fraudulent changes to customers have continued to rise.[13]
