PSA Group takes stake in Travelercar start-up

As part of its ‘Push to Pass’ strategic plan, France’s PSA Group which comprise the Peugeot, Citroen and DS brands, is pursuing its drive to invest in new mobility solutions

PSA is now investing in a start-up company TravelerCar which offers a variety of new solutions designed to optimise cars as a resource and ensure they rarely go unused. The PSA Group Push to Pass strategic plan for 2016-2021 aims to make it a successful supplier of mobility services on a global scale. To this end, last April PSA Group had announced that it would be committing 100 million euros in venture capital to investment in the field of mobility.

TravelerCar offers three types of service that are available in airports, train stations and city centres to make daily life easier for car owners and renters:

- A free parking solution for car owners who make their vehicle available for rent. In addition, car owners are remunerated if their vehicle is rented out. TravelerCar provides comprehensive insurance coverage for the vehicle and manages the rental process from start to finish

- An advantageous-price parking solution for car owners who prefer not to share their vehicle

- A reduced-rate car rental option for individuals. This service is provided through TravelerCar rental agencies, which serve as a link between renters and owners

The TravelerCar offering is a hybrid model combining elements of both traditional car rental services and peer-to-peer rental systems. It enables users to enjoy high-quality service while also participating in an environmentally-responsible process.

Founded in 2012, the start-up now has a network of 80 agencies and over 100,000 users in six countries: France (including the overseas departments and territories), Spain, the Netherlands, Germany, Switzerland and Belgium.

"One of the answers to new car consumer trends is delivering the kind of solutions that TravelerCar has developed," commented Brigitte Courtehoux, head of PSA Group's Connected Services and New Mobility Solutions Business Unit. "The move to give customers a new mobility experience is one we fully embrace at PSA Group. Thanks to the partnership with TravelerCar, PSA Group is continuing to implement its planned strategy to be a strong player in this new ecosystem."

"We are attentive to our users," said TravelerCar's founder Ahmed Mhiri, "and can therefore offer solutions that are suited to their specific needs. The car is a resource that can generate income for its owner when he or she isn't using it. It's not just about car-sharing, because we also have a solution for people who would rather not rent out their vehicle. Thanks to the partnership with PSA Group, TravelerCar will be able to reach the next stage in its development much faster and extend its offering to other European countries."