SoCar announces plan to launch service in Malaysia

Korean car sharing startup SoCar said Wednesday it will launch its business in Malaysia this month as its first overseas expansion move.

SoCar, a leading player in the country’s car sharing industry, is planning to establish 120 zones with 240 automobiles in the Southeast Asian country, it said.

Members who sign up for the service can preview the cars available and the associated outlets through a mobile application. Unlike regular services that rent a car by the day, the car sharing service rents cars by the hour with insurance coverage included.

Malaysia has a high growth potential for the new industry as it is highly populated in city centers, the company said, adding that it will accelerate the push to expand its presence in the Southeast Asian market in general.

Launched in 2012, the company currently now has 8,200 vehicles in 3,200 SoCar zones throughout South Korea, with more than 3.4 million members.

Yonhap