Hyundai Motor Co. plans to add car rental services to its stated business purposes, a move widely seen as part of an effort to upgrade its in-house subscription service, Hyundai Genesis Selection.
Industry officials said Feb. 26 that Hyundai Motor will hold its annual shareholders meeting on March 26 at its headquarters in Seoul’s Seocho district and is expected to approve an agenda item adding “car rental business” to its corporate purpose. A company official said the change reflects consideration of entering the car rental business.
Hyundai Motor said it plans to push ahead this year with an upgrade of Hyundai Genesis Selection, a vehicle subscription program it has operated since 2019.
Hyundai Genesis Selection allows customers to rent Hyundai and Genesis vehicles by the day or month. Hyundai Motor plans and operates the platform, while partner rental-car companies supply the vehicles.
While Hyundai Motor has so far focused on running the subscription platform, it is expected to expand its role to directly renting vehicles alongside partner rental firms. That could significantly broaden the range of models available through the service, industry observers said.
Models available for day-by-day subscriptions are reported to total about 10, including the Staria, Palisade, Ioniq 5 N, Ioniq 6, Avante N and Nexo.
* This article has been translated by AI.
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