Norwegian mobility tech company Casi partners with Hyundai Motor Europe to bring Mocean car subscriptions to markets across Europe
Hyundai’s Mocean car subscription service will, from today, be running on Casi’s technology platform. Casi’s technology forms the basis for Hyundai scaling the subscription service to new markets, giving European customers easy access to a new car when and where they need it.
Bergen, Norway (September 25th, 2023) Casi, a market-leading provider of car subscription technology, has today 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 successful 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. From today, 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 US$5bn and is set to grow to over US$100bn 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.
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For additional information:
Media kit with pictures
Jordan Symmonds, Head of Communications
Casi Auto
jordan@casi.auto
About Casi
Casi is a Norwegian car subscription technology company enabling car fleet owners to create new and sustainable revenue streams by offering car subscription services. Founded in 2018, the company provides all the technological tools needed for OEMs, dealerships, leasing and rental companies, and marketplaces to offer their own tailor-made car subscription services straight to consumers. Casi's technology is used and trusted by over 50 car subscription providers, including market leaders like Hyundai, Toyota, Stellantis, Volkswagen, Schibsted, and AutoScout24.
Casi is supported by Norwegian bank DNB, VC funds Idékapital, Norselab, Vasuki Global Tech, and climate fund Nysnø, leading mobility players AutoScout24, Hedin Automotive, DSD, as well as long-time investors Frydenbø and NEW & Company. For more information, visit www.casi.auto or find us on LinkedIn
About Hyundai
Hyundai Motor Europe HQ was formally established in 2000 with its main office in Offenbach, Germany. It is the regional headquarters responsible for selling vehicles in 47 European countries through 2,279 sales outlets, holding a 4.6 per cent market share in 2022. More than 70 per cent of the vehicles Hyundai sold in the region are models engineered, tested, and built in Europe to meet the needs of European customers, served by the company’s Czech and Turkish production plants.
In 2022, More than 16 per cent of Hyundai cars sold in Europe were fully-electric vehicles (BEVs and FCEVs), including IONIQ 5 and the fully-electric subcompact SUV KONA Electric. This makes Hyundai one of the leading manufacturers in terms of fleet share as well as total sales of fully-electric vehicles in Europe, as the company transitions to becoming a Smart Mobility Solutions Provider. In addition, more than 80 per cent of Hyundai’s line-up in Europe is available as an electrified version.
Hyundai Motor Company further consolidated its position as a leader in the era of electrified mobility with the launch of its Electrified Streamliner IONIQ 6 in July 2022. Built on Hyundai Motor Group’s innovative Electric Global Modular Platform (E-GMP), it offers an array of advanced technologies, personalised space and features, as well as extended range, to redefine the boundaries of electric mobility. It has already turned heads, and 2,500 units of the First Edition sold out within 24 hours.
Hyundai offers its unique Five Year Unlimited Mileage Warranty package with all new cars sold in the region, providing customers with a five-year warranty with no mileage limit, five years of roadside assistance, and five years of vehicle health checks.
More information about Hyundai Motor Europe HQ and its products is available at www.hyundai.news.
Follow Hyundai Motor Europe HQ on Twitter @HyundaiEurope and Instagram @Hyundai.Europe
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