Trevo is an innovative app-based people to people (P2P) car sharing marketplace that allows owners to rent their cars to other road users. From August 2020 till august 2021, Trevo will be running a Proof of Concept exercise with a RM 2million investment into providing financial aid for new host.
The proof of concept is meant to demonstrate the sustainability of P2P car sharing in Malaysia and reinforce its rols in the overall mobility ecosystem. The investment will encourage more people to participate in the study by sharing their vehicles while supporting the government’s effort to lighten Malaysian’s financial burden.
During this period, new host will be able get RM 200 financial aid. The financial aid will be available for 10,000 new hosts around Klang Valley, Penang, and Kota Kinabalu who sign up with Trevo and make their cars available for booking on at least 14 days each month. Host registration is open to Malaysians who own cars not older than 12 years as of 31 December 2020.
Trevo is a subsidiary of SOCAR Mobility Malaysia, which allowed 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 a minimum of 10 days monthly. They are empowered to choose their own pricing as long as it falls within the pricing band provided by the TREVO algorithm.
Currently, TREVO has more than 70,000 members and more than 1,500 car listings, with more than 150 models from 30 auto makers, ranging from Perodua Axia and Perodua Myvi to Porsche, BMW and more.