Car Finance Meets Platform... Hyundai Capital Partners with Jin Mobility

by Lee Minwoo

Published 14 Apr.2023 09:10(KST)

Customized Vehicle Management System Development and Expansion of Financial Services

Hyundai Capital has partnered with a mobility platform company. They plan to build a customized vehicle management system for platform transportation operators and expand various financial services.

On the 14th, Hyundai Capital announced that it signed a Memorandum of Understanding (MOU) with Jin Mobility to establish a ‘Fleet Management System (FMS)’ and financial services for platform transportation operators.

Jin Mobility, established in 2020, is a mobility platform company currently operating the ‘i.M Taxi,’ which is based on large passenger vans.

Through this MOU, Hyundai Capital plans to collaborate with Jin Mobility to build a customized Fleet Management System (FMS) for platform transportation operators and establish a cooperative framework to expand financial services between platform transportation operators and franchisees.

The recently revamped Hyundai Capital Fleet Management System (FMS) is an integrated solution combining IT and financial data. This system provides basic vehicle monitoring and operation status management functions, as well as automatic linkage of financial contract information and vehicle service data. Additionally, it offers features specialized for corporate clients, such as electronic notifications, billing, and settlement management.

Starting with this agreement, the two companies plan to standardize transportation management tasks such as parts, maintenance, and location monitoring by introducing a taxi fleet management system. They have already developed a system capable of systematically managing parts and maintenance and are conducting practical tests. From the second half of this year, they plan to automate vehicle operation data collection by linking Jin Mobility’s terminals with Hyundai Capital’s monitoring system, and enhance dispatch and control operations to maximize vehicle operation efficiency.

A Hyundai Capital official stated, "Through this agreement, both companies plan to combine their expertise to build a new paradigm of mobility control systems," adding, "We will lead the corporate auto finance market by providing services tailored to the characteristics of each industry."

Shim Jang-su, Head of Hyundai Capital Auto Division (left), and Lee Sung-wook, CEO of Jin Mobility, are taking a commemorative photo after signing an agreement at the Hyundai Capital headquarters in Jung-gu, Seoul on the 13th. (Photo by Hyundai Capital)