Car Next Door hitches a $2m ride from Hyundai

Aussie car sharing business Car Next Door (CND) has secured a $2 million investment from global car manufacturer Hyundai, the fifth largest auto maker in the world. 

Hyndai struck up the partnership with Car Next Door to ensure its cars would become the first 'sharing ready' vehicles in the Australian market.

Under the collaboration, CND's tech-platform will be included in a range of Hyundai cars that are soon to hit the market. 

CND will be featured on the new Hyundai Auto Link app which connects owners' vehicles to their phones.

The Auto Link app will be introduced later this year, and its integration with CND means car owners will be able to list their vehicles for rent when they aren't being used.

Using the Auto Link app, Hyundai drivers can rent their cars by the hour or day to members of CND's peer-to-peer car sharing community.

Vetted members will be able to access and drive the Hyundai vehicle simply by using their phones, negating the need for traditional keys.

The Auto Link feature is currently fitted to Hyundai's i30 small car and Kona small SUV but will soon be introduced to the new Santa Fe SUV and IONIQ hybrid electric vehicle.

Hyundai Australia chief operating officer Scott Grant says those looking to join the CND revolution have even more incentive to buy a new Hyundai vehicle.

"Australians will be able to buy a Hyundai car with the potential to rent it out," says Grant.

"This capability will be pre-installed and seamlessly integrated into Hyundai's Auto Link app, making it a simple matter to earn extra funds via Car Next Door's innovative sharing platform. We think it will be a great feature for Hyundai owners and we are very proud to partner with Car Next Door in this fantastic innovation."

Caltex Australia is also participating in the round of investment.

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Business News Australia