Announcing Our Partnership With Hyundai

HYUNDAI TEAMS UP WITH WAIVECAR TO OFFER IONIQ ELECTRIC VEHICLES AS PART OF FREE CAR-SHARING PROGRAM

Consumers Will Be Able to Access New IONIQ Electric Compact Cars On-Demand and Free of Charge in Los Angeles Starting January 2017

Los Angeles, Nov. 16, 2016 — Hyundai Motor and WaiveCar, the world’s first all-electric car- sharing program that runs on advertising dollars, today announced a partnership that will expose millions of shoppers to the all-new Hyundai IONIQ electric compact car for free.

The partnership, proposed by WaiveCar as part of Hyundai’s Project IONIQ open call, gives consumers the ability to drive IONIQ EVs on-demand for two hours at no charge. In exchange, the vehicle is wrapped in advertising and includes a roof mounted digital display, which generates the advertising revenue WaiveCar uses to offset costs. WaiveCar’s digital displays are 4G connected enabling dynamic, geo-targeted advertising tailored to ones driving location and time of day. For example, while sitting in morning traffic on the 405 freeway, the ad could read, “This commute would be a lot more comfortable in a Hyundai IONIQ.”

“WaiveCar presents some great solutions for us,” said Mark Dipko, director of corporate planning and strategy at Hyundai Motor America. “The IONIQ offers emissions-free transportation to on-the-go Angelenos. This partnership allows us to reach potential customers and give them the opportunity to test drive our outstanding IONIQ electric while generating awareness for the IONIQ brand at the same time.”

The program, which will launch in early 2017, is Hyundai’s first large-scale involvement in car-sharing and is aimed at making it easy for those without a vehicle to access short-term, free, and engaging transportation. Customers can simply download WaiveCar’s app for iPhone or Android, find an IONIQ near them, book it and start driving — no cards or keys necessary. WaiveCar then unlocks the door for consumers remotely, where they can find the keys inside. Insurance is also part of the all-inclusive-deal.

Users can drive an IONIQ for free for 2 hours at a time. They can continue to drive for just $5.99 an hour or return the car at any designated spot for the next user to pick up. This free floating car-sharing model allows more users to use the same car, which reduces congestion and pollution on a much larger scale.

WaiveCar plans to add 150 IONIQs which will be deployed throughout Los Angeles in the first half of 2017. WaiveCar is planning to launch in three additional cities by the end of 2017 using 250 more IONIQs.

“We are extremely excited to be working together with Hyundai,” said Zoli Honig, WaiveCar’s CTO & Co-Founder. “Providing low cost, eco-friendly transportation alternatives to consumers is our core mission and offering the IONIQ will accelerate that goal. We believe this partnership will be tremendously beneficial for Hyundai, WaiveCar, our customers, and the environment.”

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