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Lynk & Co, the company that sells and rents cars to customers on monthly subscriptions plans, plans to enter the Gulf region before the end of the year.
The company, jointly owned by Geely and Volvo, was previously only operating in China and Europe. It’s also planning to expand its Asian “in due course.”
However, in the Middle East and Asia, as with China, Lynk & Co will be looking to sell cars through dealers rather than using the subscription model in relies on in Europe.
Lin Jie, a Geely Auto VP who oversees Lynk & Co’s sales didn’t specify which countries it would be expanding into but did say the company would be focusing on left-hand drive markets.
Lynk & Co itself was revealed five years ago and has managed to bring more than 27,000 members on board in Europe – up from a target of 9,000.
“Five years ago, Lynk & Co started off as a concept, with a bold new approach, founded on principles that were totally unheard of within the industry,” says Alain Visser, the company’s CEO. “The numbers revealed today is total vindication of our unique and disruptive business model and proof that our focus on hassle-free mobility is what consumers in our European markets desire.”
Drivers can sign up for a month-to-month membership with a car for up to €500. That price can be reduced, however, if they are willing to share the car with other members. Alternatively, if a driver doesn’t need a new car, they can sign up for a membership to borrow a car from other members and pay-per-use.
In China, however, the company saw 29% sales growth in the first half of 2021 to 17,077. Lin also confirmed that the company has started trialling a subscription-like service in Hangzhou and Ningbo in eastern China.