The chances of Hyundai Motor entering the car-sharing market are high, a report by KB Securities said Wednesday, referring to Volvo‘s latest partnership with Uber.

Volvo on Monday signed a deal with Uber to provide tens of thousands Volvo XC90 SUVs, specifically modified for autonomous driving, from 2019 to 2021.


The report noted that partnerships between original equipment manufacturers and car-sharing service providers will become more important down the road as car-sharing service firms are expected to invest big in buying new cars.

Hyundai Capital, the financial arm of Hyundai Motor Group, has already entered into running a pilot program in Jeju to test its new car-sharing service, called Delivery Car.

If Hyundai Motor decides to acquire a local car-sharing service firm like AJ Rent-a-car, the company could enjoy the leading position in the car-sharing market, the report added.

By Shim Woo-hyun (ws@heraldcorp.com)