Technology and financial services integration backed by strategic investment
San Francisco, CA, October 31, 2016 — Getaround and Toyota Motor Corporation are announcing a new partnership to expand the reach of peer-to-peer carsharing, including strategic investment and broader platform integration.
Getaround and Toyota will integrate their respective technologies to create a more seamless carsharing experience, and to enable future mobility services. The partnership will leverage Getaround's pioneering carsharing platform and purpose-built connected car technology, in combination with Toyota's new Mobility Service Platform and bluetooth-enabled Smart Key Box. Beginning with a pilot program in San Francisco, Getaround renters will be able to seamlessly and securely rent, locate and drive new Toyota vehicles, starting with select Lexus models, without needing to use a physical car key.
Toyota Financial Services will also develop a new financial product recognizing the revenue from sharing your Toyota or Lexus on the Getaround platform as a payment method. This product will allow Toyota customers to make their monthly lease payments directly through their monthly Getaround earnings. This offering will be available to new Toyota Financial Services customers in starting in San Francisco by January 2017.
"Our mission is to empower people to carshare everywhere," said Sam Zaid, Getaround's Founder and CEO. "We're excited to work with Toyota, the world's largest automaker, on this integration and broader partnership, and see it as validation that the future of mobility is shared, connected and sustainable."
Toyota vehicles are already among the most popular cars on Getaround due, in part, to the automaker's focus on high-quality, fuel efficient vehicles. By sharing hybrid and fuel efficient cars like the Prius or Corolla, individuals help to maximize the other well-established environmental benefits of carsharing - studies have shown that each shared can take up to 10 cars off the road, helping to curb CO2 emission and traffic congestion.
Getaround empowers car owners to safely share their cars by the hour with other people nearby. Combining Getaround Connect™, our patented connected car technology, with streamlined auto insurance coverage, Getaround creates a seamless and fun sharing experience. Owners share cars ranging from a smart to a Tesla, earning thousands in extra income each year to offset the high cost of car ownership, while making a positive impact on the environment. Getaround users can conveniently rent nearby cars and save money on auto payments, insurance and maintenance.