Collaborate Corporation Limited (ASX:CL8) (Collaborate or the Company) is pleased to announce that it has today signed an agreement with Genesis Motors Australia to offer the luxury Genesis range of vehicles on the Carly and DriveMyCar Platforms.

The vehicles will be available for premium rideshare rental and car subscription customers from the newly opened Genesis Test Drive Centre in Parramatta. The collaboration with Genesis will initially launch with G80 models, with plans to expand the model range in the future.

Genesis Motors Australia is seeking to introduce the Genesis brand to a wider audience in the Australian market. As a breakthrough marque in the luxury segment, Genesis is exploring new ways for customers to experience the brand by providing innovative and flexible, extended test-drive and try-before-you-buy experiences. 

Chris Noone, Collaborate CEO, said: “We are extremely impressed with the new line up of Genesis vehicles. They have a styling and build quality to match the best brands from Europe. Offering Genesis for subscription provides Carly’s premium subscribers with an ideal opportunity to experience the luxury and quality of the Genesis range”. 

Jun Heo, CEO of Genesis Motors Australia, commented: “We’re excited to be partnering with Carly to offer a premium subscription programme delivered through our Genesis Test Drive Centre in Parramatta.

“The future of personal mobility will not be based solely around vehicle ownership, and Genesis will adapt to changing consumer demands.” 

For the fourth year in a row, Genesis placed first in the J.D. Power 2020 U.S. Initial Quality Study (IQS) among all premium automotive brands. As the #1 premium brand in the study, Genesis vehicle owners experienced 17 fewer problems per 100 vehicles than the second best luxury brand and 24 fewer problems than the average new 2020 vehicle owner that responded to the survey from J.D. Power.

For more information on Genesis Motor Australia please visit: genesis.com.

The signing of the agreement with Genesis is in relation to a vehicle subscription proposition that will enable customers to subscribe via Carly to vehicles provided by Genesis in Australia. Carly will provide the technology platform to facilitate and manage the subscription relationships between Genesis and vehicle subscribers. This latest agreement with Genesis follows the signing of agreements with Hyundai, Suttons Motors, Turners Automotive Group, and SG Fleet, and is further validation of the vital role that Carly plays in the rapidly changing automotive industry.

Carly was launched in March 2019 as a complementary demand channel to Collaborate’s existing car rental business, DriveMyCar. Carly is an alternative to buying or financing a car, offering access to a range of new and used vehicles including insurance, registration and maintenance packaged into a single monthly payment with no long-term commitments. Carly leverages the existing systems and processes of DriveMyCar and is consistent with Collaborate’s focus on facilitating the shift from ownership to access within the mobility industry in Australia.

Carly has attracted strong interest from industry participants including manufacturers, dealers and financiers. The Company will continue to pursue those opportunities as it builds upon the fleet of vehicles available to the Carly and DriveMyCar marketplaces. 

This announcement was authorised to be given to ASX by the Board of Directors of Collaborate Corporation Limited.