ASX-listed Collaborate Corporation says its DriveMyCar start-up business has inked a deal with ORIX, the largest fleet management group in Asia Pacific.
CEO Chris Noone told The Australian the deal would significantly improve DriveMyCar’s sales potential from corporate and private markets, allowing ORIX vehicles to be rented through the peer-to-peer DriveMyCar platform to private and corporate rental customers.
The first vehicles will be made available in Sydney in March 2017, with launches in Melbourne and Brisbane to follow shortly afterwards.
“A key driver of our growth is access to quality, late model vehicles in high demand locations across Australia. With the increase in vehicle supply we will be able to expand our marketing campaign and satisfy the needs of more customers,” Mr Noone said.
“This deal will accelerate our growth, especially to the corporate market as Orix has a wide range of suitable vehicles which are available in areas of high demand in Sydney, Melbourne, Brisbane and elsewhere.”
Mr Noone said since 2014 he’s been busy inking deals with corporate fleet owners such as InterLeasing, Subaru and Trivett Automotive, with those deals helping the companies more effectively monetise their fleets.
“Orix recognised the value we can add to their business and saw that we had the networks, technology and experience to deliver,” he said.
“The sharing economy model makes a lot of sense because it easily enables income to be generated from under-utilised assets. Fleet companies collectively control billions of dollars worth of assets and recognise the value that increased utilisation can deliver.
He said with DriveMyCar rentals are up to 62 per cent cheaper than using traditional car rental companies.
Share is in Collaborate were flat at two cents, at 2.07PM AEDT.
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