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Monetise your spare car with TREVO

POSTED BY Sri Fitrah Vong ON 15 September 2020

– TREVO – the latest and most innovative app-based people-to-
people (P2P) car sharing marketplace, is kicking off Phase 1 of its newly announced Proof of Concept
(POC) exercise with a RM2 million investment into providing Financial Aid for new Hosts. In the
multiphase year-long POC exercise running from August 2020 to August 2021, TREVO is seeking to
demonstrate the sustainability of P2P car sharing in Malaysia and reinforce its role in the overall mobility
ecosystem. With the investment, TREVO 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 officially announced today, at the launch of the TREVO Lighthouse
Activation Centre, officiated by Minister of Transport Datuk Seri Ir Dr Wee Ka Siong, accompanied by
Leon Foong, CEO of SOCAR Mobility Malaysia and Susan Teoh, General Manager of TREVO. The event
was also attended by Land Public Transport Agency (APAD) Director General, Azlan Shah Al Bakri and
CEO of InvestKL, Muhammad Azmi Zulkifli. The Financial Aid will be channelled to the first 10,000 new
Hosts in the 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.
“Through this investment, TREVO is excited to partner with the government in introducing the benefits
of P2P car sharing to more Malaysians and accelerate the growth of the sharing economy by
incentivising car owners to list their cars on TREVO. Beyond the initial incentive of RM200, we want
Malaysians to embrace the opportunity to turn their assets into a recurring income stream. As a mobility
company, we have often underlined the importance of shared mobility and through TREVO, we have an
opportunity to create additional income for car owners by matching their cars to people who want
access to shared vehicles. 2020 has presented us with its many challenges and we see people struggling
with income uncertainty while still having to shoulder the burden of paying off their monthly expenses
such as car maintenance bills, insurance renewals and loan repayments. We want to present TREVO as
an opportunity for Malaysians to take control of their financial situation and start making their
underutilised vehicles generate supplementary income for them,” said Leon Foong, CEO of SOCAR
Mobility Malaysia.
TREVO, a subsidiary of SOCAR Mobility Malaysia, offers a platform that connects users (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 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.
Speaking at the launch, Minister of Transport Datuk Seri Ir Dr Wee Ka Siong said the ministry welcomed
more players from the private sector to take part in POC exercises like TREVO’s, which are in line with
the National Transport Policy 2019-2030’s vision to involve public participation and stakeholder

engagement in the development of transport initiatives. “The Ministry welcomes studies by private
businesses that can offer additional information beneficial to the NTP’s policy thrust to strengthen
governance to create a conducive environment for the transportation sector, especially by
strengthening and streamlining the regulatory framework and embedding robust evidence-based
assessment in the planning and development of this sector to meet market demands. We appreciate
efforts like TREVO’s RM2 million investment in their Financial Aid programme, in line with the
Government’s PENJANA plan to help the rakyat in this challenging economy. This social investment and
the POC that drive new mobility concepts is a good showcase of Private-Public Partnerships, where
businesses can partner with the Government in improving the economy in relevant segments,” said
Datuk Seri Ir Dr Wee.
Susan Teoh, General Manager of TREVO added that the POC exercise will 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. “Our ultimate aim is to empower a safe and efficient car sharing
marketplace, so our POC exercise will closely examine factors such as insurance coverage and claims
needs, onboarding screening efficiency, regulatory licensing frameworks, post reservation customer
support and other opportunities to reduce ambiguity when it comes to formalising the car sharing
regulations. Our POC is a collaborative effort with the Ministry of Transport to understand and enhance
the industry further with a focus on protecting public interest. What we hope to achieve is to have P2P
regulations that are pro-host, pro-guest and most importantly also pro-community. At TREVO, we want
Malaysians to drive their dreams with us, but before that, we want to show all Malaysians that TREVO is
leading the way in making the car sharing marketplace better for everyone.”
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.