Udrive, the UAE-based car rental service reveals plans to expand to Saudi Arabia
Udrive, a devoted pay-per-minute and daily vehicle rental platform based in the UAE has announced its launch into Saudi Arabia. The expanded operations will address the growing demand from residents, visitors, students, and entrepreneurs in the kingdom. The 24/7 mobile-app vehicle rental company begins operations in Riyadh as part of an ambitious ambition to expand across the Gulf and broaden its client base by next year.
The expansion comes as Udrive wants to extend its fleet to 1,500 vehicles in Jeddah and other KSA cities by 2023, with the purpose of “supporting the nation’s long-term development goals by reducing vehicle emissions and decreasing pressure on infrastructure”.
Udrive’s shared mobility approach contributes to Saudi Arabia’s Vision 2030 for greener mobility. In Saudi Arabia, nine out of ten individuals (92%) drive privately owned vehicles to work or school, resulting in poor air quality, substantial traffic congestion, and diminished urban livability. Udrive saw rapid growth in 2021, recording two million trips so far, making it one of the region’s leading rental booking platforms in terms of transactions per car.
The worldwide car sharing industry is expected to increase at a 25% CAGR through 2022 and 34.8% year on year between now and 2024, reaching $16.5 billion. Udrive pioneered the 24/7 digital automobile rental idea in the GCC using simply a smartphone app. Udrive reported in February that it has closed another financing round, gathering $5 million in strategic contributions.
Nicholas Watson, co-founder and CEO of Udrive said: “We are delighted to expand our footprint to serve the thriving Saudi market. The sustainability pillar of Saudi Arabia’s ambitious Vision 2030 strategy presents a compelling case for us to expand into the region. At Udrive, we are committed to providing commuters with the best driving experience at the most affordable prices. We believe our car sharing model will reduce commuting costs for residents, tourists, students, and startups while supporting the nation’s long-term development goals by reducing vehicle emissions and decreasing pressure on infrastructure.”
