Trevo kicks off exercise, invests RM2mil to attract new hosts

By JAY WONG | 14 September 2020

From left: Teoh, Foong, Wee and Trevo Malaysia regulatory affairs head Agyl Wan Hassan.

KUALA LUMPUR: Trevo, the people-to-people (P2P) car-sharing marketplace mobile application, has kicked off Phase 1 of its newly announced proof of concept exercise with an investment of RM2mil to fund new hosts.

In the multi-stage year-long POC exercise running from August 2020, the company is seeking to show how sustainable P2P car-sharing in Malaysia is and reinforce its role in it.

With the investment, the company aims to encourage more people to participate in the POC study by sharing their vehicles, and to support the Government's effort to mitigate the rakyat’s financial challenges through the Penjana plan.

The RM200 financial aid was announced at the launch of the Trevo Lighthouse Activation Centre and was officiated by Transport Minister Datuk Seri Dr Wee Ka Siong.

Also present were Socar Mobility Malaysia CEO Leon Foong, Trevo general manager Susan Teoh, Land Public Transport Agency (APAD) Director-general Azlan Shah Al Bakri and InvestKL CEO Muhammad Azmi Zulkifli.

The financial aid will be given to the first 10,000 new hosts in the Klang Valley, Penang and Kota Kinabalu who sign up to make their cars available for bookings on at least 14 days of each month.

Host registration is open to Malaysians who own cars not older than 12 years as of Dec 31 this year.

"Beyond the initial incentive of RM200, we want Malaysians to turn their assets into a recurring income stream," said Foong.

Trevo, a subsidiary of Socar Mobility Malaysia, offers a platform that connects users (called guests) and car owners (hosts), allowing guests to book any car that fits their mobility needs and enabling hosts to earn extra income to offset the cost of car ownership.

Car owners can supplement up to 85% of their car loans just by sharing their car on Trevo for at least 10 days monthly.

They are free to choose their own pricing as long as it falls within the pricing band provided by the TREVO algorithm.

Speaking at the launch, Dr Wee said the ministry welcomed more players from the private sector to take part in exercises like Trevo’s.

Teoh added that the exercise would identify areas for improvement in the P2P car sharing ecosystem, including challenges and gaps that may become apparent once the car-sharing community gains critical mass.

According to the company, it has more than 70,000 members and more than 1,500 car listings, with more than 150 models from 30 automakers such as Proton, Perodua and Porsche.

Meanwhile, the new Trevo Lighthouse Activation Centre will serve as a support centre for hosts, with 30-minute onboarding sessions available daily from 9.00am to 5.30pm as well as regular community activities organised for members at the Lighthouse.

Car owners can join Trevo today by downloading the app and signing up with the referral code MOTxTREVO to earn the RM200 aid.

For more information, log on to the company's website or its Facebook page.