Casi partners with Hyundai to bring Mocean car subscriptions to market
Casi, a provider of car subscription technology, has announced its partnership with Hyundai Motor Europe.
Through its platform technology, Casi will provide Hyundai Motor Europe with all the tools needed to bring the Mocean subscription service to the next level. Following Hyundai’s service launch in the UK and Spanish markets, the two companies have migrated the existing Mocean customer base to the Casi platform and will work together to scale the subscription service to new European markets in the coming months.
Car subscriptions differ from traditional leasing or car ownership in their flexibility and ease of access. Where traditional leasing periods typically last three years, Mocean subscriptions are available for as little as one month (Spain) and 3 months (UK) and as long as 24 months. Additional costs normally associated with car ownership, such as insurance, roadside assistance, road tax, and maintenance are all included in the monthly subscription fee, and cancellation is available with a one-month notice period. Hyundai will be providing every aspect of the Mocean service to customers through Casi’s platform.
“We are very excited to announce this partnership with Hyundai Motor Europe. Casi’s tech platform and Hyundai’s ambitions for Mocean are a perfect match. Together, we are able to provide customers with easy and flexible access to a new car, whenever they need it. The UK and Spain are just the beginning,” says Hans Kristian Aas, CEO and Co-founder of Casi.
He continues: “Hyundai has many years of car subscription experience, making them a very knowledgeable customer with high expectations for what we can deliver. This makes them exactly the kind of customer Casi wants to work with because it allows us to develop our technology and raise the bar for car subscriptions for the entire industry.”
Casi’s tech platform contains all the tools needed to track and manage the entire lifecycle of a Mocean car running on subscription. This includes all back-end systems needed to track and manage fleet status, maintenance, and digital direct distribution sales through the Mocean webshop. The white label platform seamlessly integrates with Hyundai’s existing tech landscape, including ID solutions, ERP system, and CRM systems.
On the customer-facing end, the new partnership includes highly automated integrations critical for a smooth experience, such as payments, credit checks, subscription management, and customer service. With the new infrastructure in place, Hyundai has its sights set on new European markets.
“Following Mocean Subscription service’s success in Spain and the UK, the partnership with Casi will allow us to enrich Hyundai customers’ journeys in the new markets that the service will be rolled out to in coming months,” says Liran Golan, Head of Future Mobility at Hyundai Motor Europe.
One of Mocean’s key benefits to customers is the opportunity to access an electric car, without the perceived risks of buying one. Globally, high purchase costs are seen as one of the key barriers to widespread EV adoption. Through Mocean, customers have access to a variety of electric car models on a fixed-fee and fixed-term basis, making it possible to try one out without worrying about long-term commitments.
“As a Mobility-as-a-Service (MaaS) provider as well as a car manufacturer, the Mocean subscription service has been tailored to meet the needs of both our current and future customers, allowing us to bring Hyundai’s award-winning range of advanced electrified vehicles to those wanting to enjoy them with full flexibility, and with comprehensive motoring services included,” Golan continues.
The global car subscription industry is worth more than $5 billion and is set to grow to over $100 billion by 2032, with a forecasted annual growth rate of 35%. The main providers of car subscription services are car manufacturers, leasing companies, rental agencies, and car retailers who are looking to create additional revenue streams and meet new customer demands for flexible personal mobility.
“There is no doubt in my mind that car subscriptions are the future of personal mobility. At Casi, we want to reshape the automotive industry to be more customer-centric and give providers the tools they need to offer the ‘Netflix for cars’ model of the future,” concludes Hans Kristian Aas.