The main problem the company aimed to solve was the inconvenience, complexity, and imbalanced demand and supply in the traditional car rental and leasing industry. Additionally, the UAE has a significant number of expatriates who belong to the middle to lower-income group, for whom car ownership and maintenance is expensive or unavailable. The company faced challenges during the COVID-19 pandemic, which forced them to suspend operations for 2.5 months and secure investments from investors.
To address the challenges, Udrive resumed operations and located each car by utilizing its last known location and ensuring that every vehicle was returned to a functional state. The company also operates on scalable computing systems that allow them to handle peak demand and scale across cities and countries at speed. Udrive has tripled its fleet since 2020 and has expanded into KSA. The company serves an average of over 100 customers per car per month, potentially reducing the number of cars on the road required for these users' mobility.
In conclusion, Udrive's mission is to put the customer's needs first, create products that streamline mobility, and maximize asset utilization for access to mobility for as many people as possible. With 1,000 cars in its fleet, 380,000 registered users, and a total of 2.4 million trips since its launch in 2017, Udrive aims for triple-digit percentage growth and accelerated regional profitability over the next year.
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