Read - Zipcar and Flexcar to Merge
Car-sharing providers Zipcar and Flexcar will merge. The combined company will operate under the Zipcar brand and be headquartered in Cambridge, MA, led by Zipcar Chairman and CEO, Scott Griffith.
Zipcar and Flexcar currently operate car sharing programs, providing members with on-demand access to a diverse fleet of vehicles located throughout major metropolitan areas. To use the service, members reserve a vehicle online or via a mobile device, use a smartcard to open the doors, take their trip, and then return the car at the end of the reservation. An hourly or daily fee covers gas, insurance, maintenance, parking and 24-7 emergency service.
The merger comes at a time when car sharing is increasingly acknowledged as a smart urban lifestyle choice and transportation alternative. With growing competition within the industry, and more than 30 independent car sharing companies operating in the US alone, the combined Zipcar will have a stronger base from which to compete—particularly against leading car rental firms’ product introductions targeted at the car-sharing industry.