Ground transportation service provider ECO Rent A Car Tuesday said it has joined hands with French car rental company Europcar Mobility Group.
As part of the partnership, ECO Rent A Car customers going abroad would now be able to access Europcar's car rental services in around 130 countries. Similarly, Europcar customers will be able to either rent a car, or book a chauffeur driven service from ECO Rent A Car in India.
"India is a big market where Europcar was not present. It was the missing piece in the jigsaw puzzle. With this tie up, with Eco Rent a Car, we have not just decided on a partner but we have chosen a right partner," Europcar Mobility Group Deputy CEO Fabrizio Ruggiero told PTI.
The tie-up has enabled the company to enter the Indian car rental market, which has a lot of potential and is growing at a brisk rate, he said.
"The mobility business in India grew with a CAGR (compound annual growth rate) of 24.6 per cent from FY15 to FY19. With this venture, we aim to propel the growth and development of this industry in India and abroad," Ruggiero said.
Paris headquartered Europcar currently has a fleet of over 3.5 lakh vehicles in over 130 countries. It employs around 10,000 people and its revenues stood at around 2.9 billion Euros.
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The company already has local tie-ups in the US, Japan, Canada and China.
Commenting on the partnership, ECOS (India) Mobility & Hospitality (which owns ECO Rent A Car brand) Managing Director Rajesh Loomba said this partnership will bring global standards to India for over nine million people travelling to India every year.
He said the partnership is expected to generate a revenue of around 4 million euros for the partners in the first two years.
ECO Rent A Car currently operates a fleet of over 5,000 cars across over 80 cities in India.
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