Revv, a car rental company set up by former McKinsey associate partners, has launched its operations in Hyderabad, deploying a fleet of 50 cars across various models.
The company, based in Gurgaon, plans to launch operations later this month in Bangalore. According to Karan Jain, co-founder and COO, Revv, the company has seen a terrific response in Hyderabad after its launch. “Our average fleet utility is more than 70 per cent,” he said. “We see enormous potential in Hyderabad and envision it becoming a 250-300 car market within the next one year.”
Jain, who started the company along with another former McKinsey associate partner, Anupam Agarwal, last July, says Revv hopes to start operations in one or two new cities every month over the coming months.
Self-drive car rental firms are rare in India, as most people hire vehicles along with drivers. But Revv sees opportunity in the self-drive market, with consumers wanting to rent vehicles instead of buying them. The company delivers the car to a customer anywhere in the city that it operates in.
Revv provides self-drive cars for hourly, daily, weekly and monthly requirements. Tariffs start from a low of Rs59 an hour for a Hyundai i20 Grand, and goes up to Rs229 an hour for an Audi Q3.