Carsharing fleets powered by Vulog’s solution will allow drivers on ride-hailing platforms to rent cars parked on the street anywhere in a city.
Vulog, the world-leading provider of one-way carsharing technology, is unveiling its new technology platform enabling drivers of ride-hailing services, such as Uber and Lyft, to use shared cars in free-floating services and other one-way fleets. The announcement was premiered last week during Vulog’s presentation at the Carsharing Association Annual Conference in Montreal.
Vehicle utilization is increasing worldwide thanks to carsharing. Capitalizing on this trend, Vulog believes that the integration with ride-hailing platforms will drive shared vehicle utilization even higher. It expects that select services will choose to make cars available for ride-hailing drivers in periods where less people use carsharing, such as at night. This new integration will benefit all parties involved:
Carsharing Service Operators: Higher fleet utilization leads to more revenues without impacting the consumer offering for individual carsharing users during high demand periods. In addition, cars being used for ride-hailing will serve as additional promotional tools for every rider getting picked up by a branded car;
Drivers: By using a shared vehicle, drivers can reduce their fixed costs, as they no longer will need to own a vehicle to drive for a ride-hailing service. They can now pay per hour whenever they wish to drive, with gas and insurance included. Moreover, the free-floating nature of a service means that they can pick up a car close to them, drive only for a few hours if they want, and end the trip wherever they wish;
Ride-hailing companies: By reducing the barrier to entry for drivers, more chauffeurs will flock to the service and improve the offering by reducing wait times for ride-hailing users. They are also guaranteed that the cars will always be clean and recent.
At most times of the day, free-floating carsharing will remain the only option to ensure maximum availability of cars. In the event that a service decided to activate the ride-hailing integration between 10 p.m. and 6 a.m. daily, potential utilization would look like the following:
“We expect this offering to open a new market segment to our clients, thus increasing fleet utilization and size in many cities,” said Gregory Ducongé, Vulog’s CEO. “The on-demand model has completely changed the way people consume transportation; we believe that ride-hailing drivers can and should have access to their tools on-demand as well.”
By facilitating this intersection between mobility services, Vulog provides a new tool for carsharing operators, which include vehicle manufacturers, car rental companies, parking lot operators and various other businesses, to remain at the forefront of innovation. This new ride-hailing integration adds another dimension to Vulog’s full end-to-end white-label offering, which includes in-car hardware to report telematics data, back-end software to manage the fleet of vehicles, and mobile apps for both Android and iOS.
In recent months, Vulog’s clients have hit unique milestones, including one European operator onboarding 100,000 members in 100 days in Madrid, and one North American client growing its fleet to 1,250 cars in Vancouver. The company expects this module to propel its client base towards new heights, as it prepares to announce new projects in Poland and New Zealand in the coming weeks.