Trevo

- The AirBNB for Cars.

Kuala Lumpur, 25th February 2020 – Trevo – the latest and most innovative people-to-people car sharing marketplace was officially launched today by SOCAR Malaysia. The app-based marketplace enables drivers (guests) to book any car that fits their needs and wants from the nearest car owners (hosts) in the Trevo community. Trevo prides itself on constant innovation and one of its key goals is to make it as easy as possible for Hosts to share their vehicles and access new income opportunities. Trust and safety is also a key priority for Trevo and they aim to use both technology and operational expertise to ensure that Hosts’ vehicles are protected at all times.

The launch was graced by Mr Muhammad Azmi Zulkifli, Chief Executive Officer of InvestKL and also attended by Mr Shin Jung-Ho, Executive Vice President, SK Holdings Co Ltd. Trevo – incorporated as Future Mobility Solutions Sdn Bhd, is a fully-owned subsidiary of SOCAR Mobility Malaysia Sdn Bhd (SOCAR). SOCAR itself is 60%-owned by SK Holdings – part of South Korea’s SK Group, and 40% owned by SOCAR Korea.

TUESDAY, FEBRUARY 25, 2020

AUTOMOTIVE

People-to-people car sharing marketplace Trevo officially launched in Malaysia

“It’s a well-known fact that car ownership in Malaysia is amongst the highest in the region with 93% of households owning at least one car. However, with real wage growth slowing down over the past few years, we acknowledge the financial burden that comes with owning a car. With Trevo, we are showing our commitment to the multiflex ecosystem by allowing a new segment of users who want to make money from sharing their cars when they’re not using them to alleviate the financial burden of servicing a hefty monthly auto loan instalment. For the Trevo Guests, we hope to be able to curate best in class vehicles in terms of selection and quality at very attractive prices. Ultimately, Trevo is about driving people forward towards achieving their financial and lifestyle goals,” said Mr Leon Foong, CEO of SOCAR Mobility Malaysia.

Malaysia has one of the world’s highest ratios of private car ownership (93%) and the highest incidence of multiple car ownership per household globally (54%).

“SK Holdings is excited to invest in bringing transportation innovations like Trevo to Malaysia, with the rapidly changing attitudes towards car ownership and transportation choices that we see here. The strong growth of SOCAR Malaysia has shown us the value of investing in car-sharing platforms in this country, thus inspiring us to channel more investment to this sector here,” commented Mr Shin Jung-Ho, Executive Vice President, SK Holdings Co Ltd.

Meanwhile, Ms Susan Teoh, General Manager of Trevo said Malaysians are always keen to try new concepts, such as new car ownership models that enable drivers to access a car only when needed instead of committing to full ownership, and for existing car owners to loan out unneeded cars instead of storing them at home.

“With the official launch of Trevo in Malaysia, we are excited to introduce the next chapter of car-sharing in our overall multi-flex mobility story to Malaysians. Through Trevo, we want to empower Malaysians to drive their dreams. For Guests, we provide more mobility choices to help them fulfil their travel dreams, while for Hosts, we offer the opportunity to earn extra income to offset the cost of car ownership. Thus, we can improve both the lifestyle quality and also enrich life experiences for both Guests and Hosts. We also conduct community workshops to help hosts optimise the value of car ownership. At the end of the day, we want to create a thriving Trevo community of like-minded people who share a goal to improve mobility, contribute to less carbon emissions and enable a better environment for humanity. We can’t wait for our first of its kind Trevo activation centre to be launched,” she said.

With Trevo, Guests can loan a car from as low as RM55 per day for a Perodua Myvi or treat themselves to a luxury experience by loaning a Rolls Royce for a day of pampering. They can choose from compact cars and hatchbacks, sedans and coupes and SUVs and 4x4s.

For Hosts, they can easily cover their monthly car instalments as long as they share their cars for at least 6-8 days a month. Hosts are empowered to choose their own pricing as long as it falls within the pricing band that the Trevo algorithm provides. Corporate Hosts such as car rental companies can also list their fleet on Trevo.

The Trevo app is available for download on Apple’s App Store and the Google Play Store.

For more information on Trevo, log on to their website at https://trevo.my/ or the Trevo Malaysia Facebook page at https://www.facebook.com/TrevoMY/